Tether Releases Assurance Report by Moore Cayman
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Tether revealed an assurance opinion conducted by Moore Cayman, an audit firm in the Caribbean. The company said in an announcement that the report "clearly and unambiguously" approves that all USDTs are backed by reserves.

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Tether's CTO, Paolo Ardoino, claims that the company's "conservative portfolio" continues to fuel its growth:

"A healthy and conservative portfolio with an emphasis on liquidity continues to fuel our growth and confidence in our innovative offerings."

As per report, Tether's consolidated total assets amount to at least $62,7 billion. Meanwhile, the company's reserves held for its tokens issued "exceeds the amount required to redeem the digital asset tokens issued," said Moore Cayman. This is Moore's second report for Tether this year. Earlier, the audit published two reports, according to which USDT is fully backed. However, it remains unclear what exactly is backing the stablecoin.

Tether Execs Face Criminal Probe Into Bank Fraud: Report

In February this year, iFinex Inc., a parent company of Bitfinex, and Tether agreed to pay $18.5 million in penalties as the both companies had made false statements about the backing of the tether stablecoin, and about the movement of funds dollars between the two companies to cover up the truth about massive losses by Bitfinex.

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