Tether has missed it's 2022 Q1 reserves report, going on two months late

Background

As part of Tethers settlement with the NY Attorney General they are required to publish quarterly reserve reports.

Extract from the settlement:

• "Publication of Tether’s Reserves: On at least a quarterly basis for a period of two (2) years following the effective date of this Settlement Agreement, Tether will publish the categories of assets backing tether (e.g., cash, loans, securities, etc.), specifying the percentages of each such category, and specifying whether any such category constituting a loan or receivable or similar is to an affiliated entity, in a form substantially similar to that previously presented to the OAG."

• "The effective date of this Settlement Agreement shall be February 18, 2021."

https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

Attestation Reports

They haven't published the March 2022 report. You can check yourself via the Tether site.

https://tether.to/en/transparency/#reports

They were going steady throughout 2021

Court Battle

Is it something to do with the ongoing freedom on information request for information on Tethers reserves?

Coindesk has joined a suit between NYAG and Tether to allow NYAG to release documents regarding Tethers reserves to news media outlets.

https://www.theblockcrypto.com/post/129602/coindesk-formally-joins-tether-freedom-of-information-case-in-new-york-tether-responds

Pretty suspect given the attestation report really doesn't impact the case, but if say coindesk does get the info and it conflicts against the attestation report then that wouldn't be good for business.

One thing is for sure, Tether has proven itself as the crypto market boat rocker.