Yesterday, Tether released its USDT stablecoin financial report for the second quarter of 2023.
Since the Fed raised interest rates to record levels, Tether’s investments in US government bonds have started to yield much more than normal.
Since the important thing for USDT is to sustain reserves, any added gain is for all intents and purposes a profit for the company, even after adjusting for inflation.
The validity of this report was confirmed by the independent auditor BDO, one of the world’s top five independent public accounting firms, which stated that it complies with the actual data.
Tether reserves for the USDT stablecoin
Thanks to gains during the quarter, Tether was able to increase its excess reserves by as much as $850 million to a total of $3.3 billion.
Excess reserves are those reserves that are not used to cover the market value of the tokens issued, but are actually a surplus, held out of simple prudence.
In other words, not only are all tokens put into
We współpracy z: https://en.cryptonomist.ch/2023/08/01/tether-usdt-stablecoin-reserves-increase/
