BUSD Reserve Attestation

Paxos Trust Company, LLC (BUSD) - 2023-01-31

Engagement Details

Period Type

Monthly

Engagement Type

Examination

Standard

AT-C 205

Opinion

Unmodified

Practitioner

WithumSmith+Brown, PC

Assertion Party

Management of Paxos Trust Company, LLC

Reserve Summary

Total Reserves

-

Circulating Supply

-

Coverage Ratio

-

Custodians

Not disclosed in report.

Scope Notes

January 2023 Withum examination covering Jan 24 and Jan 31, 2023, the month before NYDFS ordered the BUSD wind-down. Reserves ~$16B in US Treasuries and overnight reverse repos per secondary coverage (approximate, so totals left null).

GENIUS Act Disclosure Checklist

Factual observations only. See methodology.

• ✓Monthly disclosure published
• ✓Examination-level engagement
• ✓Practitioner PCAOB-registered
• ✗Composition by category disclosed

Source

Primary source PDF ↗

Source quality: Secondary Source

How to Cite

Reserve Attestation Registry. "BUSD Reserve Attestation - 2023-01-31." https://grantstell.com/attestations/paxos-busd-2023-01 (retrieved 2026-08-05).