The completion of the attestation of reserves for the Tether cryptocurrency has been achieved with great success by the prestigious international accounting firm BDO. The certification that Tether is the largest stablecoin in the world by market value was done by BDO, and the coin is issued by the company that owns the stablecoin with the highest value.

The stablecoin firm issued a statement on February 9 regarding the issuance of BDO’s assurance opinion. This opinion reaffirms the confidence that the correct information can be seen in Tether’s Consolidated Reserves Report (CRR) as of December 31, 2022.

According to the CRR, Tether’s consolidated assets are worth at least $67 billion, which is more than the company’s consolidated liabilities, which are $66 billion, and the company has excess reserves worth at minus $960 million. Tether’s consolidated assets are greater than the company’s consolidated liabilities, which amount to $66 billion. The total amount of Tether’s consolidated assets is $67 billion, which is more than the total amount of the company’s consolidated liabilities, which is $66 billion.

In addition to reducing its committed collateralized loans, the report reveals that as of the end of 2022, Tether had no outstanding commercial paper. This comes after a drop in the total amount of your committed collateralized loans. [There must be other citations for this]

As stated first, by mid-October 2022, Tether will have fully phased out USDT (reserve trading paper) and replaced those assets with US Treasury bills. This will have been accomplished according to the original schedule. The first step in the company’s first strategy was to announce that it would start decommercial paper from USDT reserves in June 2022. On the other hand, this proposal was ultimately abandoned. At the time, the total reserves held by USDT were $82 billion, with commercial paper accounting for less than 25 percent of those reserves. Commercial paper accounted for less than 25 percent of those reserves.