The latest report [1] shows < 0.1% assets held in commercial paper. They didn't disclose individual issuers, but they've previously disclosed the credit ratings

The latest report [1] shows < 0.1% assets held in commercial paper. They didn't disclose individual issuers, but they've previously disclosed the credit ratings for the commercial paper and most were A-2, A-1, and A-1+ (equivalent to BBB and better for bonds). Since they were able to rotate out of the commercial paper, the credit worthiness of it was good enough. There's a separate line item for "Secured Loans" which is where money lent to affiliated crypto entities would go. Tether previously stated that these loans would also be wound down. [2] [1] https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPhvnHM/6d1608c90bb775d2d432b7b24264da28/ESO.02_Std_ISAE_3000R_Opinion_30-9-2022_RC134792022BD0548.pdf https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPh... [2] https://tether.to/en/tether-addresses-fud-around-secured-loans-reveals-plans-to-reduce-these-to-zero-in-2023 https://tether.to/en/tether-addresses-fud-around-secured-loa...