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&nbsp; The Q2 2023 report from Tether shows that the company holds more Treasury Bills than the UAE, Australia, and Spain.&nbsp; 
<a class="editor-rtfLink" href="https://thecryptobasic.com/2022/03/28/tether-usdt-prints-over-1-billion-in-fours-days-pushing-bitcoin-ethereum-and-crypto-market-up/" target="_blank" rel="noopener noreferrer nofollow">Tether </a>, the issuer of USDT, the world’s largest stablecoin, has released its Q2 2023 report, showing the company’s significant investment in US Treasury Bills.&nbsp; 
In its recently-published Q2 2023&nbsp; <a class="editor-rtfLink" href="https://tether.to/en/tether-excess-reserves-increase-by-850m-to-reach-3-3b-as-leading-stablecoin-reveals-72-5b-overall-exposure-in-us-t-bills-and-unveils-energy-related-investments/" target="_blank" rel="noopener noreferrer nofollow">report </a>, Tether disclosed a $72.5 billion overall exposure in US Treasury Bills, outpacing the holdings of Australia, Spain, and the UAE.&nbsp; 
As of April 2023, the US Treasury&nbsp; <a class="editor-rtfLink" href="https://www.statista.com/statistics/246420/major-foreign-holders-of-us-treasury-debt/" target="_blank" rel="noopener noreferrer nofollow">holdings </a>&nbsp;of the UAE, Australia, and Spain sat at $70.2 billion, $59 billion, and $54.9 billion, respectively.&nbsp;&nbsp; 
However, Tether’s US Treasury Bills holding puts it behind Germany in terms of large holders of Treasuries. The development was also shared by prominent cryptocurrency analyst Miles Deutscher in a tweet today. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Tether now holds more U.S. treasuries than Australia, the UAE, and Spain. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/9BbjZ7Xb3Y" rel="noopener noreferrer nofollow">pic.twitter.com/9BbjZ7Xb3Y</a> 
 <a href="https://twitter.com/milesdeutscher/status/1686656329601970176?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 2, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="span-data-preserver-spaces-true-tether-s-operating-profits-soar-in-q2-span">Tether’s Operating Profits Soar in Q2 </h2> 
Notably, Tether recorded outstanding operating profits in the year’s second quarter. Tether’s operating profits spiked to more than $1 billion in Q2 2023, representing a 30% increase quarter over quarter.&nbsp; 
According to Deutscher, Tether’s operational profits for Q2 2023 rival those of BlackRock, the world’s largest asset manager.&nbsp; ... 
<a href="https://thecryptobasic.com/2023/08/02/report-tether-now-holds-more-us-treasury-bills-than-uae-australia-and-spain/" rel="noopener noreferrer nofollow">Read more</a>

Report: Tether Now Holds More US Treasury Bills Than UAE, Australia, and Spain

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