@BOMBERuss 20 May 2022 more from that month

#Tether has started transferring reserves to US Treasury Bills The Company is reducing the number of commercial securities in its reserves. The reports published after the UST collapse confirm that Tether's reserves are fully secured Tether Holdings Limited has published its latest quarterly audit report, indicating a significant reduction in investments in commercial securities and an increase in investments in US Treasury bills. The document confirms a reduction in the share of commercial securities compared to the previous quarter: from $24.2 billion to $20.1 billion and an increase in investments in money market funds and US Treasury bills by more than 13%: from $34.5 billion to $39.2 billion. "The past week is a clear example of Tether's strength and resilience. #USDT has maintained its stability despite numerous tragic events on the market and an extremely unstable situation, and even in the darkest days Tether has never refused to satisfy a request for redemption from any of its trusted customers," said Paolo Ardoino, technical director of Tether. He added that in fact, since April 1, 2022, Tether has had a further reduction in commercial securities by 20%, which will be reflected in the report for the 2nd quarter of 2022. Tether's consolidated assets increased from $78.7 billion to $82.4 billion compared to the previous quarter, according to the conclusion of independent auditors MHA Cayman. The document indicates that the group's total assets exceed its total liabilities. The latest Tether report appeared at a time when #stablecoins are under the scrutiny of the crypto community and regulators due to the collapse of #UST.