The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves.
Tether today releases its attestation for Q3 /2023.- cash & cash equivalent portion of reserves is all time high at 85.7%, yielding ~$1B
– US T-bill (direct and indirect) exposure at $72.6B- reduced secured loans by $330M- investments in energy, bitcoin mining and P2P tech… pic.twitter.com/ibKJRPlBAg
— Paolo Ardoino (@paoloardoino) October 31, 2023
According to the report, $56.6…
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