Tether's consolidated assets exceed its liabilities, commercial paper holdings fall from $20 billion to $8.5 billion in Q2

Tether released a report independently audited by top 5 accounting firm BDO to enhance reserve transparency. The report shows that Tether has reserves of US$66.4 billion, total liabilities of approximately US$66.2 billion, and comprehensive assets exceeding its liabilities. As of June 30, Tether's commercial paper holdings decreased by more than 58% from the previous quarter, from $20 billion to $8.5 billion, and Tether has committed to reducing its exposure to commercial paper to 2% by August 2022. billion and drop to zero by the end of the year. During the same period, Tether’s cash and bank deposit holdings increased by 32%.