{"id":486602,"date":"2022-08-19T19:45:00","date_gmt":"2022-08-19T16:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/independent-tether-attestation-reveals-58-decrease-in-commercial-paper-holdings\/"},"modified":"2022-08-19T19:45:00","modified_gmt":"2022-08-19T16:45:00","slug":"independent-tether-attestation-reveals-58-decrease-in-commercial-paper-holdings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/independent-tether-attestation-reveals-58-decrease-in-commercial-paper-holdings\/","title":{"rendered":"# Independent Tether attestation reveals 58% decrease in commercial paper holdings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a271fabc51e6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a271fabc51e6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/independent-tether-attestation-reveals-58-decrease-in-commercial-paper-holdings\/#%E2%80%9D_Independent_Tether_attestation_reveals_58_decrease_in_commercial_paper_holdings_%E2%80%9C\" >&#8221; Independent Tether attestation reveals 58% decrease in commercial paper holdings   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Independent_Tether_attestation_reveals_58_decrease_in_commercial_paper_holdings_%E2%80%9C\"><\/span>&#8221; Independent Tether attestation reveals 58% decrease in commercial paper holdings   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMDY4OTRlYTMtNjQyNC00NjM4LWIxOTktMTg0MDVmNGFjMzMxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>An announcement from USDT\u00a0issuer Tether Holdings Limited revealed information from an independent attestation about the company\u2019s previous quarter&#8217;s performance. The reviewer, top accounting firm BDO Italia, assessed Tether\u2019s assets as of June 30, 2022.\u00a0<\/p>\n<p>Tether had previously announced a commitment to decreasing its commercial paper holdings by the end of August 2022. Data from the report revealed a 58% decrease in commercial paper exposure since the previous quarter from $20 billion to $8.5 billion.<\/p>\n<p>The chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer of Tether, Paolo Ardoino, tweeted that Tether has plans to continue to decrease its commercial paper holdings to $200 million by the end of August and zero them out by the following October.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As of June 30th, more than 58% decrease in Tether\u2019s commercial paper holdings over the prior quarter from $20B to $8.5B.<br \/>CP portfolio will be $200m by end of August and 0 by end of October. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/g5lJgs1r3n\">https:\/\/t.co\/g5lJgs1r3n<\/a><\/p>\n<p>\u2014 Paolo Ardoino  (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1560617019606810625?ref_src=twsrc%5Etfw\">August 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAdditionally, the total amount of consolidated assets held by Tether at the time of the review <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/tether-releases-independent-auditor-report-from-top-5-accounting-firm-bdo-reinforcing-its-dedication-to-transparency-and-revealing-another-major-cut-to-commercial-paper-holdings\/\">amounted<\/a> to just over $66.4 billion. Meanwhile, the total amount of consolidated liabilities equaled nearly $66.2 billion, with nearly 99% related to digital tokens.<\/p>\n<p>In May 2021 Tether began releasing quarterly statements of its stablecoin reserves after reaching a settlement with the New York Attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>. This came after a lawsuit against Tether claimed that USDT didn\u2019t have full backing in its reserve at all times.<\/p>\n<p>The company says these reports, specifically with the oversight of BDO, are to \u201creinforce its dedication to transparency.\u201d Ardoino commented on the attestation, saying:<\/p>\n<blockquote><p>\u201cThe utility of Tether continues to be supported by the transparency of its reserves and has been a leading source of stability, allowing us to build a tool for the global economy.\u201d<\/p><\/blockquote>\n<p>Tether&#8217;s attestation report was released one week after the United States government sanctioned cryptocurrency mixer Tornado Cash, which contributed to a surge in USDT&#8217;s circulating supply.\u00a0USDT continues to hold the top spot as the world\u2019s largest stablecoin by market capitalization, according to data from CoinMarketCap.<\/p>\n<p><em><strong>Related:\u00a0<\/strong><strong>Tether calls thesis behind USDT short selling\u00a0\u2018flat out wrong\u2019<\/strong><\/em><\/p>\n<p>Tether recently came out with a statement in alignment with the upcoming Ethereum Merge to proof-of-stake, which is projected to h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en this September.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/independent-tether-attestation-reveals-58-decrease-in-commercial-paper-holdings\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Independent Tether attestation reveals 58% decrease in commercial paper holdings &#8220; An announcement from USDT\u00a0issuer Tether Holdings Limited revealed information from an independent attestation about the company\u2019s previous quarter&#8217;s performance. The reviewer, top accounting firm BDO Italia, assessed Tether\u2019s assets as of June 30, 2022.\u00a0 Tether had previously announced a commitment to decreasing its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":486603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMDY4OTRlYTMtNjQyNC00NjM4LWIxOTktMTg0MDVmNGFjMzMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,75159,75566,75493,117,36041],"class_list":["post-486602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-digital-currency","tag-report","tag-stablecoin","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=486602"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/486603"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=486602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=486602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=486602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}