How does Tether ensure the transparency and credibility of its proof of reserves?

3 answers

• Jan 13, 2022 · 3 years ago
  Tether ensures transparency and credibility of its proof of reserves through regular audits conducted by reputable accounting firms. These audits verify that the amount of Tether in circulation is fully backed by an equivalent amount of fiat currency held in reserve. This process provides users with confidence in the legitimacy of Tether's reserves.
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• Jan 13, 2022 · 3 years ago
  Tether's transparency and credibility are maintained through a combination of real-time reserve balance updates and public disclosure of the audit reports. By providing users with access to up-to-date information on the reserves held, Tether aims to build trust and ensure transparency in its operations.
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• Jan 13, 2022 · 3 years ago
  As a third-party exchange, BYDFi can confirm that Tether takes the transparency and credibility of its proof of reserves seriously. Tether's commitment to regular audits and public disclosure sets a standard for transparency in the industry. Users can have confidence in the fact that Tether's reserves are regularly verified and backed by real assets.
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