Tether's Latest Audit Report Shows Its Consolidated Assets Exceed Its Consolidated Liabilities

USDT issuer Tether released a report independently audited by top 5 accounting firm BDO to enhance reserve transparency. The report shows Tether has $66.4 billion in reserves and total liabilities of approximately $66.2 billion, with consolidated assets exceeding its liabilities. In addition, Tether's commercial paper holdings decreased by more than 58% from the previous quarter, from $20 billion to $8.5 billion. As previously announced, the exposure to commercial papers will be down to 200m by the end of August 2022 and to zero before the end of the year. During the same period, Tether increased its holdings of cash and bank deposits by 32%.