Tether Smashes Records, $1.48 Billion Profit In Q1- Surplus Over Reserves Hits All-Time High

Tether Holdings Limited, the issuer of the world’s largest stablecoin, USDT, has published its Q1 2023 Assurance Report, attested to by BDO Italia, a top five-ranked global independent public accounting firm. The report re-affirms the accuracy of Tether’s Consolidated Reserves Report (CRR), which details the assets held by the group as of March 31, 2023. The CRR includes additional categories for the first time, including physical gold, overnight repo, corporate bonds, and Bitcoin ownership, which aim to increase transparency into Tether’s reserves reporting. Furthermore, the report reveals an increase in Tether’s excess reserves, reaching an all-time high of $2.44 billion,

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Author: coinmaker