Tether Releases Consolidated Reserves Report, Backing $50B in Assets

2021-5-2 19:30

Popular stable coin company Tether has released its consolidated reserves report, backing all USDT.

Tether has released its most recent independent assurance opinion that confirms the company’s reserves are fully backed. 

The report which has been verified by independent accountants Moore, clarifies that Tether are in fact fully backed. The report from Moore states Tether currently holds consolidated assets amounting to $41 billion as of 31 March 2021. 

Moore also states that Tether’s consolidated assets exceeds its consolidated liabilities, meaning the company’s reserves that are held for its digital assets issued exceeds the amount required to redeem the digital asset tokens issued. 

USDT backed by company assets

Moore concludes “We believe that the evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our assurance opinion”. 

The news is a big step forward for Tether, who have been criticized in the past for not holding any monetary value while continuously printing more Tether (USDT). 

Tether has seen tremendous growth over the past several months as the crypto market grows exponentially. 

Exponential growth due to TRON expansion

Most recently, the company announced that it has surpassed the $50 billion market capitalization. The rapid growth for a stable coin such as USDT has been credited to its diversification across multiple blockchains. Tether was originally only an ERC-20 token. However its shift to add the TRON network token has seen massive expansion. 

Due to high transactional fees on the ethereum blockchain, the Tron backed USDT recently surpassed the supply of its native ERC-20 token. USDT on TRON stands at $26 billion, while the ethereum USDT currently accounts for just over $24.4 billion. 

The report confirms that the digital asset USDT is fully backed by company reserves. With Tether commenting on the Consolidated Reserves Report, saying “Today’s publication reflects our continued dedication to making this information public as part of our ongoing commitment to transparency and setting the standard in our industry. We embrace that commitment to our community”.

The post Tether Releases Consolidated Reserves Report, Backing $50B in Assets appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Tether (USDT) на Currencies.ru

$ 1.0011 (+0.01%)
Объем 24H $164.235b
Изменеия 24h: 0.01 %, 7d: 0.10 %
Cегодня L: $1.0003 - H: $1.0013
Капитализация $132.584b Rank 3
Цена в час новости $ 1 (0.11%)

report backing reserves consolidated tether assets 50b

Источник: beincrypto.com

report backing → Результатов: 46


Today, Circle released the latest attestation report on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP. The report states that as of May 31, 2019 at 11:59 PM Pacific Time: USD Coin (“USDC”) tokens issued and outstanding = 333,854,877 USDC US Dollars held

2019-6-18 18:25


Cryptocurrency Exchanges and fake volume: Report finds link between VC backing, employee count and registration

With the growing need to scrutinize cryptocurrency exchanges on more than just reported volume, several key players are looking at a host of indicators. The health of an exchange can be ascertained by more than just the amount of coins moving back-and-forth with web-traffic, orderbook data and more being touted as effective symptoms of sick […] The post Cryptocurrency Exchanges and fake volume: Report finds link between VC backing, employee count and registration appeared first on AMBCrypto.

2019-6-16 15:30


Фото:

Facebook’s Crypto Project Gets Major Backing from Dozens of Industry Heavyweights

Cryptocurrency media outlet The Block on June 14, 2019, revealed the complete list of stakeholders of Facebook’s high-profile digital currency project. Heavyweights Behind the Libra Project According to the report, a number of corporate titans from various industries are part of the governing association of Facebook’s cryptocurrency.

2019-6-15 13:00


Фото:

Стейблкоин компании Circle прошел аудиторскую проверку

Компания Grant Thornton LLP – подразделение международной консалтинговой фирмы Grant Thornton International провела аудиторский отчет об аттестации стейблокоина USDC от криптостартапа Circle. Отчет подтвердил, что все токены USDC, находящиеся в обращении обеспечены достаточным количеством фиатных долларов.

2019-1-18 13:47


Аудиторская проверка подтвердила обеспеченность стейблкоина USDC

Аудиторская фирма Grant Thornton подтвердила, что в конце 2018 года стейблкоин USDC от стартапа Circle был полностью обеспечен фиатными резервами. Independent accounting firm Grant Thornton LLP issues attestation report on US Dollar reserves backing USD Coin (USDC) in circulation through December 2018.

2019-1-18 22:01


Стейблкоин USDC от Circle успешно прошел аудиторскую проверку

Аудиторская фирма Grant Thornton подтвердила, что в конце 2018 года стейблкоин USDC от стартапа Circle был полностью обеспечен фиатными резервами. Independent accounting firm Grant Thornton LLP issues attestation report on US Dollar reserves backing USD Coin (USDC) in circulation through December 2018.

2019-1-17 21:00


Стейблкоин USD Coin успешно прошел повторный аудит

Выпущенный компаниями Circle и Coinbase стейблкоин USD Coin (USDC) прошел повторный аудит, подтвердивший его обеспеченность заявленным количеством долларов США. Independent accounting firm Grant Thornton LLP issues second attestation report on US Dollar reserves backing USD Coin (USDC) in circulation.

2018-12-19 15:06


Повторный аудит USD Coin подтвердил обеспеченность стейблкоина твердой валютой

Выпущенный компаниями Circle и Coinbase стейблкоин USD Coin (USDC) прошел повторный аудит, подтвердивший его обеспеченность заявленным количеством долларов США. Independent accounting firm Grant Thornton LLP issues second attestation report on US Dollar reserves backing USD Coin (USDC) in circulation.

2018-12-19 13:56


Independent Accounting Firm Grant Thornton LLP Issues Attestation Report on US Dollar Reserves Backing USDC Tokens in Circulation

Today, Circle released the first attestation report on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP. The report states that as of October 31, 2018 at 11:59 PM UTC: USD Coin (“USDC”) tokens issued and outstanding = 127,408,827 USDC US Dollars held in

2018-11-21 19:00


Blockchain Business in Crypto Valley Has Doubled Since Last Year: Report

The number of blockchain-related companies in Switzerland and Liechtenstein has doubled in the last year, according to a new study published by CV VC. The Zug-based firm, in partnership with Strategy& (PwC’s global consulting arm) and inacta, compiled information about the top 50 blockchain and digital asset companies between the two countries.

2018-10-11 00:18


Huge Inflow into Crypto Investment Fund Despite Bear Market

Crypto investment fund Grayscale has revealed it received record-breaking inflows of money during the first six months of 2018 even though the price of Bitcoin crashed from $20,000 to $7,000. Crypto Fund Receives Strong Backing Grayscale Investments released their first Digital Asset Investment report, which showed a large influx of money into their crypto investment.

2018-7-19 22:00


Фото:

Billionaire Steven Cohen backs Crypto! Blockchain Hedge fund according to Bloomberg report

Billionaire Steven Cohen, the founder of Point72 Asset Management, is reportedly backing a crypto and blockchain-focused hedge fund, Bloomberg reports Friday, July 13. Cohen invested in Arianna Simpson’s cryptocurrency hedge fund, Autonomous Partners, via his private equity firm Cohen Private Ventures, according to Bloomberg’s anonymous source.

2018-7-13 18:17


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

USDT Netflow Hits Record $1.8B, Fuels Crypto Market Surge

The crypto market is witnessing a surge in buying power as USDT netflow hits an unprecedented $1. 8 billion. This influx of stablecoins typically signals increased market activity and often drives demand for Bitcoin and other cryptocurrencies.

Crypto firms launch the Global Dollar stablecoin to boost adoption

The Global Dollar is issued out of Singapore by Paxos and is “substantially compliant” with the MAS Tether’s USDT stablecoin accounts for more than 75% of the market Kraken’s co-founder said there is a “lack of competition” in the stablecoin market A group of cryptocurrency and financial technology companies have introduced a joint stablecoin, the […] The post Crypto firms launch the Global Dollar stablecoin to boost adoption appeared first on CoinJournal.