Tether CTO Paolo Ardoino explained that U.S. Treasury bills represent more than 58% of the company’s reserves.
On Monday, the chief technology officer of Tether Holdings Limited, Paolo Ardoino, explained that U.S. Treasury bills represent more than 58% of the company’s reserves. The announcement follows Tether hiring the accounting firm BDO Italia and the stablecoin issuer’s quarterly attestation, which had shown a decrease in commercial paper holdings.According to Tether’s CTO, U.S.
: “Deadline is usually 45 days — But with the new auditor we’re improving processes to reduce timelines.”Tether portfolio update. Tether as of 30 September 2022 holds ~58.1% of its assets in U.S. t-bills. Up from 43.5% on June 30, 2022. [Commercial paper] exposure is [less than] 50M now.the accounting firm BDO Italia and publishing the company’s quarterly attestation for Tether’s reserve holdings.
The attestation published in August shows that Tether’s commercial paper holdings exposure was reduced, and the latest update shows Treasury reserves Tether holds today are up 14% from June 30, 2022. Commercial paper, however, has diminished down to less than $50 million.
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