{"id":78574,"date":"2023-05-11T10:31:54","date_gmt":"2023-05-11T07:31:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78574"},"modified":"2025-09-11T05:58:03","modified_gmt":"2025-09-11T02:58:03","slug":"tether-posts-1-48-billion-in-net-profit-in-q1","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-posts-1-48-billion-in-net-profit-in-q1\/","title":{"rendered":"Tether posts $1.48 billion in net profit in Q1"},"content":{"rendered":"<p>The issuer of the stablecoin <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-tether-usdt\">USDT<\/a>, Tether Limited, for the January\u2013March period recorded net profit of $1.48 billion \u2014 a figure twice that of the prior period.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tether\u2019s Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Gold?src=hash&#038;ref_src=twsrc%5Etfw\">#Gold<\/a> Allocations<a href=\"https:\/\/t.co\/G7QWB2VXqd\">https:\/\/t.co\/G7QWB2VXqd<\/a> <a href=\"https:\/\/t.co\/xUwOf4n1o7\">pic.twitter.com\/xUwOf4n1o7<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1656299990367576072?ref_src=twsrc%5Etfw\">May 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The figure was <a href=\"https:\/\/u1f987.com\/en\/news\/tether-says-it-has-1-66-billion-in-excess-usdt-reserves\"> twice as high as expectations <\/a>, according to the company\u2019s CTO Paolo Ardoino.<\/p>\n<p>In the fourth quarter of 2022 net profit<a href=\"https:\/\/u1f987.com\/en\/news\/tether-posts-700m-in-net-profit-for-q4\"> $700 million<\/a>.<\/p>\n<p>The accuracy of the figures in the document was confirmed by auditor BDO.<\/p>\n<p>The profit added to the company\u2019s equity.<\/p>\n<p>As of March 31, 2023, the company\u2019s assets reached $81.8 billion, liabilities \u2014 $79.4 billion, and equity \u2014 $2.44 billion. The latter figure was $960 million at the end of 2022.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cAnother excellent quarter for Tether on several fronts. Net profit of $1.48 billion, reserve fortification and a 20% increase in the number of tokens in circulation. The latter is a sign of customer trust, enabling the company to look to the future with greater optimism,\u201d<\/em> the document states.<\/p>\n<\/blockquote>\n<p>In the assurance report, the company for the first time included additional categories in the reserve data.<\/p>\n<p>Tether Limited disclosed that it holds bitcoins valued at $1.5 billion and physical gold in the form of bars \u2014 $3.39 billion. They represent 1.8% and 4.1% of total reserves, respectively.<\/p>\n<p>The largest share of USDT collateral (84.7%) is held in cash, cash equivalents and short-term deposits.<\/p>\n<p>The structure is as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>US Treasury bills \u2014 76.15%;<\/li>\n<li>bills of other governments \u2014 0.07%;<\/li>\n<li><a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A1%D0%B4%D0%B5%D0%BB%D0%BA%D0%B0_%D0%A0%D0%AD%D0%9F%D0%9E\" title=\"\">\u043e\u043f\u0435\u0440\u0430\u0446\u0438\u0438 \u0420\u0415\u041f\u041e<\/a> overnight\u2014 10.8%;<\/li>\n<li>term REPO operations \u2014 1.1%;<\/li>\n<li>money market funds \u2014 10.7%;<\/li>\n<li>deposits in commercial banks \u2014 0.7%.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cTether is working to reduce reliance on deposits as a source of liquidity, considering the repo market as an additional measure to uphold high standards of user protection,\u201d<\/em> the report explains.<\/p>\n<\/blockquote>\n<p>Earlier, Tether conducted an analysis of The Wall Street Journal articles and <a href=\"https:\/\/u1f987.com\/en\/news\/tether-accuses-wsj-journalists-of-bias\">accused<\/a> the publication of biased coverage against the company.<\/p>\n<p>In February 2023, the media <a href=\"https:\/\/u1f987.com\/en\/news\/forbes-reports-on-tether-reserves-placed-with-cantor-fitzgerald-and-capital-union\">reported<\/a> the placement of USDT reserves at Cantor Fitzgerald and Capital Union.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The issuer of the stablecoin USDT, Tether Limited, for the January\u2013March period recorded net profit of $1.48 billion \u2014 a figure twice that of the previous period.<\/p>\n","protected":false},"author":1,"featured_media":78575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1252,807,1245],"class_list":["post-78574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-reports","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78574"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78574\/revisions"}],"predecessor-version":[{"id":78576,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78574\/revisions\/78576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78575"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}