) reserves by mid-October, replacing those investments with United States Treasury Bills. The company originally announced the plan to get rid of commercial paper in USDT reserves in June 2022. At the time, commercial paper accounted for less than 25% of USDT’s total reserves of $82 billion.
Paolo Ardoino, Tether and Bitfinex’s chief technology officer, took to Twitter on Thursday to point out that Tether demonstrated an “impressive resilience” to market black swan events that hit a number of crypto companies amid the bear market of 2022. He“Tether demonstrated a superior approach to risk management, that allowed to maintain its leadership, while consolidating profits.
BDO noted that the auditor’s opinion is limited “solely to the CRR and the corresponding consolidated total assets and consolidated total liabilities” as of Dec. 31, 2022. “Activity prior to and after this time and date was not considered when testing the balances and information described above,” the firm added.
paoloardoino Still wondering why some authorities crack down on USDT sometimes 😑😑 bfxleosafrica
paoloardoino Also heard you made $700m in profit, very impressive bfxleosafrica
Auditor's report on tether's report. Wordplay. BDO did a sampling as written.
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