{"id":82430,"date":"2023-07-31T17:59:49","date_gmt":"2023-07-31T14:59:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82430"},"modified":"2025-09-12T04:57:09","modified_gmt":"2025-09-12T01:57:09","slug":"tether-reports-850m-net-profit-in-the-second-quarter","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tether-reports-850m-net-profit-in-the-second-quarter\/","title":{"rendered":"Tether reports $850m net profit in the second quarter"},"content":{"rendered":"

The issuer of the stablecoin USDT<\/a>, Tether Limited, for the April\u2013June 2023 period recorded net profit in the amount of $850 million<\/a>.<\/p>\n

In the first quarter, the figure stood at $1.48 billion<\/a>.<\/p>\n

The accuracy of the data disclosed in the document has been confirmed by auditor BDO.<\/p>\n

The profit boosted the company’s equity.<\/p>\n

As of June 30, the company’s assets stood at $86.5 billion, liabilities at $83.2 billion, and equity at $3.33 billion (about 4% of assets). The latter figure was $2.44 billion three months earlier.<\/p>\n

\n

‘Excess reserves (equity) are the company’s retained earnings that are not distributed to shareholders. They serve as a complement to the 100% reserves of all issued tokens,’ the press release said.<\/em><\/p>\n<\/blockquote>\n

According to the report, 85% of USDT collateral consists of cash and cash equivalents. The company invested $72.5 billion in U.S. Treasury securities.<\/p>\n

Earlier in May, Paolo Ardoino, the company’s CTO<\/span>, said that high profitability<\/a> gives Tether the opportunity to consider new lines of business<\/a>.<\/p>\n

Subsequently, the stablecoin issuer invested $1 billion<\/a> in a Bitcoin mining project in El Salvador.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuer of the USDT stablecoin, Tether Limited, for the April\u2013June 2023 period, recorded net profit of $850 million.<\/p>\n","protected":false},"author":1,"featured_media":82431,"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":[83,1245],"class_list":["post-82430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82430","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=82430"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82430\/revisions"}],"predecessor-version":[{"id":82432,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82430\/revisions\/82432"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82431"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}