{"id":184559,"date":"2023-10-31T21:17:42","date_gmt":"2023-10-31T15:47:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=184559"},"modified":"2023-10-31T21:17:42","modified_gmt":"2023-10-31T15:47:42","slug":"tether-q3-attestation-report-reveals-highest-ever-levels-of-cash-and-cash-equivalents-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/tether-q3-attestation-report-reveals-highest-ever-levels-of-cash-and-cash-equivalents-crypto-news\/","title":{"rendered":"Tether Q3 attestation report reveals highest-ever levels of cash and cash equivalents – Crypto News"},"content":{"rendered":"

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Tether Holdings Limited<\/a>, the company behind the world\u2019s largest stablecoin (USD Tether), has released its Q3 attestation, a financial report independently verified by BDO, a globally recognized accounting firm.<\/p>\n

The report\u00a0attests to significant shifts in the firm\u2019s financial portfolio, including a surge in its cash and cash equivalent (C&Ceq) reserves to 85.7% of total reserves, a $330 million reduction in secured loans, and substantial investments in industry-related research fields.<\/p>\n

As of September 30, 2023, Tether\u2019s reserves are largely comprised of C&Ceq, making up 85.7% of total reserves, according to the attestation. A significant portion of these funds are held in US T-Bills, which account for 72.6 billion. The increase in C&Ceq reserves is a notable shift in Tether\u2019s asset management.<\/p>\n

The attestation also highlights a $330 million reduction in secured loans, a move that comes amid the scrutinized financial management practices of the firm. This reduction suggests a significant shift in Tether\u2019s financial strategy.<\/p>\n

Tether\u2019s returns from C&Ceq investments have reportedly reached nearly\u00a0 $ 1 billion for the quarter. The firm has also invested over $ 670 million into industry-related research in Q3, amounting to over $800 million since the start of the year. These figures, however, do not form part of the reserves backing the issued token.<\/p>\n

Despite the fluctuations in Gold and Bitcoin prices, Tether\u2019s financial report indicates a stable excess reserves buffer. The firm saw reductions of US $116 million for gold inventory and US $195 million for BTC positions at the end of Q3\/23, but these were offset by gold and Bitcoin (BTC<\/a>) price increases in October.<\/p>\n

BDO\u2019s independent attestation confirms that Tether\u2019s consolidated assets exceed its consolidated liabilities. Specifically, Tether asserts a consolidated asset total of at least $ 86,384,653,832, and consolidated liabilities amounting to $ 83,176,997,409, of which $ 83,153,363,663 relate to digital tokens issued.<\/p>\n

Finally, Tether\u2019s report notes that the company\u2019s investments in sustainable energy, Bitcoin mining, data, and P2P technology reached $ 668,891,473 in Q3 2023 and $ 809,491,473 since the start of the year.<\/p>\n

Tether\u2019s Q3 attestation reveals significant changes in its asset management, including an increase in cash reserves, a decrease in secured loans, and substantial investments in research and sustainable technologies. As the cryptocurrency market evolves, such disclosures from companies like Tether continue to provide insights into the financial strategies of stablecoin operators.<\/p>\n

Posted In: Tether<\/a>, Stablecoins<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Tether Holdings Limited, the company behind the world\u2019s largest stablecoin (USD Tether), has released its Q3 attestation, a financial report independently verified by BDO, a globally recognized accounting firm. The report\u00a0attests to significant shifts in the firm\u2019s financial portfolio, including a surge in its cash and cash equivalent (C&Ceq) reserves to 85.7% of total reserves, […]<\/p>\n","protected":false},"author":2,"featured_media":139000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-184559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=184559"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184559\/revisions"}],"predecessor-version":[{"id":184561,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184559\/revisions\/184561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/139000"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=184559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=184559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=184559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}