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Tether, one of the largest cryptocurrency companies, has recently released an attestation of its financial activity corresponding to Q1 2024. Tether registered a record-breaking $4.52 billion in profits, and disclosed its net equity levels, reporting $11.37 billion as of March 31, 2024. Tether issued over $12.5 billion USDT during this period. Tether Attestation Registers Record-Breaking … Read more
Tether’s newest reserve attestation shows the highest-ever percentage of cash equivalents, with most reserves consisting of U.S. T-bills and repurchase agreements. Go to Source
Tether is also looking to become more transparent, having hired a new accounting firm to conduct regular audit and attestation reports to ensure its stablecoin is properly backed by the USD. Go to Source Powered by WPeMatico
On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre Consortium’s accountant, Grant Thornton explaining that the stablecoin’s reserve account information matches the accompanying reserve account … Read more
