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Assurance Report Says Tether Stablecoins Are Fully Backed- Firm Exceeded Its Consolidated Liabilities

The company behind the world’s largest stablecoin disclosed a report by aiming to show “transparency commitment” to clarify whether Tether’s reserves are fully backed or not. Tether Holdings Limited published its “Assurance Opinion” issued by an auditing firm based in the Cayman Islands. Accounting Firm Recognizes Two Ongoing Legal Cases According to the statement, Tether Holdings Limited stated that USDT tokens have “always been fully backed.” The report was signed by Moore Cayman on March 26, 2021, and compiled on February 28, 2021 “at 11:59 PM UTC.” Per the accountant’s report, consolidated total assets amount to at least $35,276,327,156, which,…

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