Tether is the company that issues and manages the world’s leading stablecoin, USDT.
It recently released its first quarterly report for 2023, which showed a record net profit of $1.48 billion, thanks to which the company increased its surplus reserves to $2.44 billion, another historic record.
In fact, the company’s profits are used precisely to increase reserves, so the net profit of $1.48 billion was entirely used to increase reserves.
As of 31 March, the company had total consolidated assets of $81.8 billion against liabilities of only $79.4 billion, of which $79.37 billion related to tokens in circulation.
Tokens in circulation
During the first quarter of 2023, the number of USDT tokens in circulation increased by 20%, from 66.2 billion to 79.37 billion, and continued to increase in the following weeks. In fact, to date, USDT is capitalised at over $82.66 billion.
So far, 2023 is proving to be an extremely bullish year for Tether, so much so that USDT has almost reached
We współpracy z: https://en.cryptonomist.ch/2023/05/11/tether-usdt-record-profits/
