{"id":550055,"date":"2023-02-09T14:49:24","date_gmt":"2023-02-09T11:49:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tethers-assets-exceed-liabilities-in-new-reserves-report-by-bdo\/"},"modified":"2023-02-09T14:49:24","modified_gmt":"2023-02-09T11:49:24","slug":"tethers-assets-exceed-liabilities-in-new-reserves-report-by-bdo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tethers-assets-exceed-liabilities-in-new-reserves-report-by-bdo\/","title":{"rendered":"# Tether\u2019s assets exceed liabilities in new reserves report by BDO"},"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-6a27e29e91a86\" 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-6a27e29e91a86\" 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\/tethers-assets-exceed-liabilities-in-new-reserves-report-by-bdo\/#%E2%80%9D_Tethers_assets_exceed_liabilities_in_new_reserves_report_by_BDO_%E2%80%9C\" >&#8221; Tether\u2019s assets exceed liabilities in new reserves report by BDO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tethers_assets_exceed_liabilities_in_new_reserves_report_by_BDO_%E2%80%9C\"><\/span>&#8221; Tether\u2019s assets exceed liabilities in new reserves report by BDO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>Tether, the issuer of the world\u2019s largest stablecoin by market value, has completed reserves attestation by major global accounting firm BDO.<\/p>\n<p>The stablecoin firm\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/tether-continues-to-demonstrate-strength-of-reserves-reveals-dollar700m-profits-for-q42022-in-latest-attestation-report\/\">released<\/a> BDO\u2019s assurance opinion on Feb. 9, which re-affirms the accuracy of Tether\u2019s consolidated reserves report (CRR) as of Dec. 31, 2022.<\/p>\n<p>The CRR <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/assets.ctfassets.net\/vyse88cgwfbl\/53L8YRM4ZHCEeqlpKbc3Q8\/846eb5a7f53a47d53676ee3fbb1b3062\/Std_ISAE_3000R_Opinion_BDO_31-12-2022_Tether_CRR.pdf\">shows<\/a> that Tether\u2019s consolidated assets amount to at least $67 billion, exceeding consolidated liabilities of $66 billion, with excess reserves equaling at least $960 million.<\/p>\n<p>In addition to reducing its secured loans as committed, the report also shows Tether ended 2022 with zero commercial paper.<\/p>\n<p>As previously reported, Tether completely removed commercial paper from (USDT) reserves by mid-October 2022, replacing those investments with United States Treasury Bills. The company originally announced the plan to get rid of commercial paper in USDT reserves in June 2022. At the time, commercial paper accounted for less than 25% of USDT\u2019s total reserves of $82 billion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/33efabae-2e52-45eb-bd50-fd152d4b9be6.jpg\"><figcaption style=\"text-align: center;\"><em>Source: Tether<\/em><\/figcaption><\/figure>\n<p>Paolo Ardoino, Tether and Bitfinex\u2019s chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer, took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Thursday to point out that Tether demonstrated an \u201cimpressive resilience\u201d to market black swan events that hit a number of crypto companies amid the bear market of 2022. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1623644465238798339?s=20&amp;t=vbnT8hDSidpKa7oth7oqMA\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cTether demonstrated a superior <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>roach to risk management, that allowed to maintain its leadership, while consolidating profits. Tether reiterates its commitment to be a leader into building Bitcoin and stablecoin technologies, investing in fundamental projects and infrastructures.\u201d<\/p><\/blockquote>\n<p>BDO noted that the auditor\u2019s opinion is limited \u201csolely to the CRR and the corresponding consolidated total assets and consolidated total liabilities\u201d as of Dec. 31, 2022. \u201cActivity prior to and after this time and date was not considered when testing the balances and information described above,\u201d the firm added.<\/p>\n<p><strong><em>Related:\u00a0Only 4 people controlled Tether Holdings as of 2018: Report<\/em><\/strong><\/p>\n<p>Additionally, the auditing firm said it hasn\u2019t performed any procedures or provided any assurance on the financial or non-financial activity on dates or times other than that noted in the report.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/tether-assets-exceed-liabilities-in-new-reserves-report-by-bdo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether\u2019s assets exceed liabilities in new reserves report by BDO &#8220; Tether, the issuer of the world\u2019s largest stablecoin by market value, has completed reserves attestation by major global accounting firm BDO. The stablecoin firm\u00a0released BDO\u2019s assurance opinion on Feb. 9, which re-affirms the accuracy of Tether\u2019s consolidated reserves report (CRR) as of Dec&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":550056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/c20dea88-e3ab-4fa3-ba19-25c6ad14fc0c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75493,117,70934,36041],"class_list":["post-550055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-stablecoin","tag-business","tag-regulation","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550055","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=550055"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/550056"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=550055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=550055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=550055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}