Tether (USDT) released its quarterly reserve reports shortly after announcing its deal with BDO.
Tether has announced that it has partnered with BDO Italia to publish assurances and reports on its reserves. After a very short time, he shared the quarterly reserve report prepared in cooperation with the audit firm BDO, which he had just signed, on his official website.
Tether’s Cash Reserves Increase 32 Percent
Tether, the issuer of the stablecoin USDT, which has the largest market share in the world, has published its reserve report prepared with BDO. BDO stated that Tether continues to deliver on its commitments to reducing commercial securities and transparency.
The Tether report shows that cash reserves increased by 32 percent compared to the previous quarter. There was also a $11.5 billion drop in reserves, corresponding to a 58 percent reduction in reserves since the previous three months.
Tether’s U.S. Treasury bonds fell to $28.9 billion in the second quarter, from $39.2 billion in the first quarter, according to a statement by accountant BDO Italia.
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