Tether’s external audit confirms USDT coins are fully backed by reserves
Tether has been one of the most controversial cryptocurrency projects. It has been accused of artificially inflating Bitcoin’s 2017 rally, and some claimed that the Tether (USDT) coins were not fully backed by fiat currencies. However, an external audit recently carried out showed that the company is backed by reserves.
USDT coins are fully backed by reserves
Tether, the parent company behind the USDT stablecoin, announced earlier today that an external audit confirmed the coins are fully backed by reserves. In its blog post earlier today, the company stated that “Tether Holdings Limited proactively made available a recent assurance opinion by Moore Cayman confirming that information in the company’s Consolidated Reserves Report (CRR) is accurate.”The stablecoin issuer added that the attestation by an independent accountant re-confirms the company’s long-stated position that all Tether tokens are fully backed by Tether’s reserves. The recent attestation shows that all $40 billion USDT coins are backed by real fiat currencies.
Moore Cayman pointed out that its confirmation was based on the information it received last month. “Our opinion is solely limited to the CRR and the corresponding consolidated total assets and consolidated total liabilities as of 28 February 2021,” the accountancy firm added,
Tether has been embroiled in several controversies over the past few years as they have been accused of minting USDT coins that are not backed by fiat currencies. Moore Cayman stated that it didn’t conduct any activity or procedure prior to the above-mentioned date.
Tether claims transparency
The cryptocurrency company said its reserves have always backed its USDT coins. The firm stated that “Tether has always been fully backed, and the assurance opinion we made available today confirms it once again. As Tether’s growth in the market continues to validate our business, we understand the public’s interest in this matter and are pleased to share this attestation as part of our ongoing commitment to transparency.”The transparency report comes at a time when stablecoins are gaining recognition from some traditional financial institutions. Visa announced yesterday that it would be using the USDC stablecoins to settle transactions on the Ethereum blockchain. Thus, making it the first major payments platform to adopt a stablecoin.
Continue reading by joining Cryptonary Pro
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
