June 16 (Cointime) - Leading stablecoin Tether has completed its reporting obligations to the New York Attorney General's Office under the terms of its 2021 settlement, which called for quarterly reporting of Tether's reserves for two years. Tether fully honored its obligation and provided responsive documents to CoinDesk, who sought public disclosure of materials relating to the first of Tether's quarterly reports.

The disclosed documents include statements from Tether's banks showing the full existence of reserves and how Tether has been applying best-in-class asset management concepts. Tether reduced its commercial paper holdings to zero in mid-2022 and aims to bring its secured loans portfolio to zero in the coming months. Tether takes pride in the deep liquidity of its reserves, strength, and stability, and will always defend its customers, personnel, and community against attacks.