Tether Reports $1.48 Billion Profit in Q1 2023
Tether, the issuer of the first USDT stablecoin by capitalization, has released its results for the first quarter of 2023. According to the report, the company’s net profit amounted to $1.48 billion. The total assets of the company reached $81.8 billion, of which about $2.44 billion was declared as excess reserves to support the liquidity of the USDT stablecoin. Most of Tether’s reserves are in US Treasury bills, according to audit firm BDO Italia. In…
