Report Shows Tether’s Reserves Remain Extremely Liquid

By Aduragbemi Omiyale

A new report has revealed that Tether’s reserves remain extremely liquid, with the majority of its investments being held in cash, cash equivalents, and other short-term deposits.

This latest report demonstrates the commitment of Tether Holdings Limited to transparency and highlights a $300 million reduction in secured loans, more than $700 million net profit added to Tether reserves in the last quarter of 2022, and the highest percentage to date of assets allocated in US Treasury Bills, with direct exposure of over 58 per cent.

The Tether’s Consolidated Reserves Report (CRR), which breaks down the assets held by the group as of December 31, 2022, showed that, in addition to reducing its secured loans as committed, Tether ended 2022 with zero commercial paper and at least $67 billion in consolidated total assets and excess reserves of at least $960 million.

The assurance opinion completed by BDO, a top five-ranked global independent public accounting firm, revealed that the group’s consolidated total assets amount to at least $67.044 billion, with consolidated total liabilities at $66.084 billion, of which $66.057 billion relates to digital tokens issued.

The CTO of Tether, Mr Paolo Ardoino, while commenting on the report, said, “With the presentation of this latest consolidated reserve report, Tether continues to deliver on our promise to lead the industry in transparency.”

“After a tumultuous end to 2022, Tether has once again proven its stability, its resilience and its ability to handle bear markets and black swan events, setting itself apart from the bad actors of the industry.

“Not only were we able to smoothly execute over $21 billion dollars in redemptions during the chaotic events of the year, but Tether has, on the other side, issued over $10 billion of USD₮, an indication of continued organic growth and adoption of Tether.

“Last quarter, Tether generated over $700 million in profits, adding to its reserves. We are proud of how Tether has continued to be a driving force in rebuilding trust within the crypto industry, and we are determined to continue to set a positive example for our peers and competitors alike,” he added.