Every investor entering the cryptocurrency markets Tether somehow meets. Because many major stock markets cryptocurrency To buy, you need to buy USDT first.
Tether is a company that produces a token called USDT, which is pegged at $1 and has a current market value of approximately $80 billion.
Now cryptocurrency It is a great mystery whether USDTs, which form the main backbone of the markets, are actually equivalent.
While the company claims that USDTs are supported in every statement, it is criticized for not being transparent enough about this issue.
Is Transparency Enough?
Unrequited USDT accused of printing Tether He became the subject of investigations in the USA on this issue and closed the files as a result of the agreement he reached with the prosecutor’s office.
The company announced that it will make a change in its transparency policy in 2021, and that it will have its reserves examined by an independent auditor and that it will publish reports on this every three months.
Again, this did not please some. Because the equivalents of USDTs are not kept entirely in dollars. In fact, the vast majority of USDTs are held in the form of private corporate bonds. Here, too, it is criticized that it is not disclosed which companies’ bonds are kept.
New Report Published
While this is the latest situation on the Tether side, a new quarterly report has been published. In the report announced by Tether, it was stated that the consolidated assets of the company exceeded its consolidated liabilities.
The description is as follows:
“The report approved by MHA Cayman shows that Tether’s consolidated assets exceeded its consolidated liabilities as of December 31, 2021.
Consolidated total assets amount to at least USD 78,675,642,677.
Consolidated total liabilities amount to USD 78,538,305,451.
The latest report also shows an increase in A-1+ commercial paper holdings from the previous quarter, along with the group’s investments in money market funds and treasury bills, further bolstering the counterparts of Tether’s stablecoins.”