Reserve

Gold

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/assessing-tethers-financial-clarity-and-profitability-in-2023" rel="noopener noreferrer nofollow">Assessing Tether’s Financial Clarity and Profitability in 2023</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/tether-ascends-to-top-10-bitcoin-holders-with-strategic-withdrawal" rel="noopener noreferrer nofollow">Tether</a>, the dominant stablecoin in the cryptocurrency market, has been working to improve its image after facing negative press in the previous year. The company has reduced its holdings in risky assets and increased its financial transparency by providing regular reserve attestation reports.</p>
<h2 id="tether-s-financial-strides">Tether’s Financial Strides</h2>
<p style="text-align: justify">In its latest quarterly report for Q4 2023, audited by BDO, Tether Holdings Limited reported a substantial profit of $2.85 billion. The report confirmed the accuracy of Tether’s Consolidated Reserve Report (CRR) and detailed the assets held by the company as of December 31, 2023.</p>
<p style="text-align: justify">Tether’s record profit includes $1 billion in net operating income, mostly from interest income on US Treasury bonds. The company’s reserve surplus has increased significantly, ensuring that it holds more than enough assets to back the tokens issued, with high liquidity confirmed by BDO.</p>
<p style="text-align: justify">For the entire year of 2023, Tether’s total net profit amounted to $6.2 billion, with a significant portion derived from interest income on US Treasury bonds. The company has also diversified its earnings into other assets like Gold and Bitcoin, aligning with its strategy to invest up to 15% of its profits in BTC.</p>
<p style="text-align: justify">Tether has achieved a new milestone with $80.3 billion in US Treasury bonds, maintaining a high level of liquidity by backing 90% of its tokens with Cash and Cash Equivalents. The company’s CEO, Paolo Ardoino, highlighted Tether’s commitment to transparency and financial stability, as well as the significant net profit achieved in Q4 and throughout 2023.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/assessing-tethers-financial-clarity-and-profitability-in-2023" rel="noopener noreferrer nofollow">Assessing Tether’s Financial Clarity and Profitability in 2023</a></h5>

Assessing Tether’s Financial Clarity and Profitability in 2023

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