Hire a professional hacker here atTheHackersPro!
TheHackersProTheHackersProTheHackersPro
(Monday - Sunday)
Submit request
TheHackersProTheHackersProTheHackersPro

Tether’s Q1 2023 report states record $2.44b reserve surplus and $1.48b net profit

  • Home
  • Blog
  • Hacking
  • Tether’s Q1 2023 report states record $2.44b reserve surplus and $1.48b net profit
Script Network SCPT02

Script Network SCPT02

Tether Holdings Limited’s latest Q1 2023 assurance report, completed by global independent public accounting firm BDO Italia, reveals an all-time high of $2.44 billion in excess reserves, up $1.48 billion from the previous quarter. 

The achievement reaffirms the accuracy of Tether’s consolidated reserves report (CRR) as of March 31, 2023, which breaks down the assets held by the group and includes new categories such as physical gold, overnight repo, corporate bonds, and bitcoin ownership.

Reports of tremendous success

The report also sheds light on Tether’s investment strategy, which shows the majority of its reserves are invested in U.S. Treasury bills, reflecting the company’s efforts to reduce its reliance on pure bank deposits as a source of liquidity.

The report highlights a 25% reduction in secured loans and an increase in assets allocated to U.S. Treasury bills, while gold and bitcoin make up approximately 4% and 2% of the total reserves, respectively. All new token issuance has been invested in U.S. Treasury bills or placed in overnight repo.

Other details provided by the company highlight that approximately 85% of Tether’s investments are held in cash, cash equivalents, and other short-term deposits, and highlights a 25% reduction in secured loans and an increase in assets allocated to U.S. Treasury bills.

“WE are thrilled with the tremendous success Tether has achieved in Q1 2023, with our reserves’ surplus reaching an all time high of $2.44B. Our net profits in the past quarter were $1.4B, a testament to the strength and stability of our platform.”

Paolo Ardoino, CTO of Tether.

The report’s revelation of Tether’s investment strategy also provides insight into how the company manages its liquidity, which is vital for investors who want to understand the risks associated with investing in tether tokens.


Follow Us on Google News

Leave A Comment

Professional hackers for hire at TheHackersPro

(Sat - Thursday)
(10am - 05 pm)

Subscribe to our newsletter

Sign up to receive latest news, updates, promotions, and special offers delivered directly to your inbox.
No, thanks