Moore Cayman auditor has published a new report on USDT - Bits Media

Auditing firm Moore Cayman publishes asset report, which secured the USDT stablecoin. About 85% USDT is backed by traditional currencies and obligations in them.

According to data on 30 june 2021 of the year, Tether's consolidated reserves are $62.7 billion, and the amount obligations $62.6 billion. It means, that the reserves of Tether, providing USDT stablecoin, Exercise the amount, necessary to repay all tokens, released by the company. As of 29 april 2021 years, consolidated tether assets were evaluated in $41 billion.

In June
reported indicated, what 85% USDT reserves are provided with cash and their equivalents. In this category, short -term deposits and bills prevail, The share of which was compiled 58%. On treasury bills 29%, cash and fiducial deposits - 12%, And the re -repo - 2%. Remarkably, that the share of treasury bills for Tether reserves has increased significantly. According to the first published details of the provision of Tether, This indicator was only 3%. Treasury bills are short -term state debt obligations, The maturity of which should not exceed more than one year.

Besides, This time Tether combined cash and fiducial deposits in one category, although in the last report they were presented separately. As of June, The placement of funds in this combined category decreased with 28% to 12%, What does a reduction in the total amount of money and fiducial deposits mean. Tether introduced a breakdown on the deadlines for repaying short -term deposits and bills. Most of them should be repaid in the period of 81–365 days.

“The last audit, Moore Cayman, confirms again, that USDT is fully provided. We form a healthy and conservative portfolio with an emphasis on liquidity, What fits confidence in our proposal ", - said the technical director of Tether Paolo Ardoino (Paolo Ardoino).

In July, the US Department of Justice began to investigate Tether's activities in the early stages of its work. The company is suspected of concealing information from banks, that her banking operations were associated with cryptocurrencies.