Tether Releases Latest Consolidated Reserves Report Showing Its Consolidated Assets Exceeded Its Consolidated Liabilities

Tether has published its Consolidated Reserves Report along with attestation from the independent auditing firm MHA Cayman. The report showed the company's consolidated reserves exceeded its consolidated liabilities. This suggests that, as of Mar. 31, Tether's USDT tokens were fully backed by cash, cash equivalents, other short-term depsits, and commercial paper. The report put Tether's consolidated assets at $82,424,821,101 and its consolidated liabilities at $82,262,430,079, $82,188,190,813 of which related to USDT issued. The attestation also showed that Tether decreased its riskier commercial paper holdings by 17% over the prior quarter for generally considered less risky U.S. treasury bills. It also said that it has further reduced its commercial paper holdings by 20% since Apr. 1.