Tether, net profit of $ 1.48 billion in the first quarter ─ Bitcoin and gold holdings also revealed | coindesk JAPAN | Coindesk Japan

Tether, the company behind the stablecoin Tether (USDT), reported net profit for the first quarter of 2023 of $1.48 billion, according to its latest audit assurance report released on May 10. Doubled from Q4 2022. For the first time ever, Tether has revealed details of its Bitcoin (BTC) and gold holdings. As of March 31, Tether’s balance sheet had $1.5 billion in Bitcoin (approximately 200 billion yen, converted to 135 yen to the dollar, approximately 2% of reserves of approximately $80 billion) and $3.4 billion in gold (approximately 4,600 billion yen, about 4% of reserves). stablecoin winners The $131 billion