EUR/USD 1.16000
0.039%
Gold 4220.14
1.519%
Oil 59.392
0.687%
USD/JPY 156.145
-0.098%
GBP/USD 1.32418
0.018%
GBP/JPY 206.766
-0.068%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.The Kurdistan Regional Governments Electricity Department: Operations at the Khormor oil field have resumed, and the transmission of natural gas to the power plant began at 2:00 AM.On November 30th, three OPEC+ representatives indicated that OPEC+ is likely to maintain its first-quarter 2026 oil production levels at its Sunday meeting, a move that would moderate its efforts to regain market share amid growing market concerns about oversupply. Similar comments were made by other sources this week. The organization had been cutting production for years until April of this year, when eight member countries began increasing output to restore market share.

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

Alice Wang

Aug 19, 2022 14:59

微信截图_20220819145252.png


he biggest stablecoin in the world, Tether, said on Thursday that it has hired the accounting company BDO Italia to attest for its asset reserves. By the end of the year, it plans to publish its reports monthly rather than quarterly.


A stablecoin is a form of cryptocurrency with a fixed value, such as a 1:1 peg to the dollar. They are often used to transfer money into conventional currency or between other cryptocurrencies.


According to Tether, the currency maintains its value by maintaining dollar-denominated reserves that are equal to or greater than the value of Tether coins currently in circulation. These reserves have long been the focus of investigation, which intensified in May when the collapse of the stablecoin TerraUSD caused a sell-off in the cryptocurrency markets.


The British Virgin Islands-based corporation Tether has recently issued papers in which accounting firms vouch for the extent of its cash holdings. As of March 31, the reserves were at $82.4 billion, of which $39 billion was held in US Treasury bonds and $20 billion in commercial paper.


The latter two studies were produced by MHA Cayman, a company from the Cayman Islands.


According to its website, Tether has previously worked with Moore Cayman, a different Cayman Islands company.


BDO Italia is an independent member firm of BDO International Limited and an Italian-based audit and assurance business. At least two of Tether's executives are from Italy. According to Chief Technology Officer Paolo Ardoino, the majority of the team's personnel are headquartered in Europe and the Bahamas, where the majority of the reserves are held.


The partnership between Tether and BDO Italia, the business stated in a statement, is "the next stage in the firm's route towards a thorough audit."


According to Ardoino, "Our community has requested over time to enhance the auditing company that we are utilizing because they thought they needed something greater."


According to Ardoino, Tether would reduce its holdings of commercial paper from $8.4 billion on July 1 to $200 million by the end of August. He omitted to say which assets these monies had been invested in.

Suggestion