Celsius

Gold

/send

Infinite Fleet

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    <p>Tether has released the most recent assurance through the end of 2023, which claims continued growth in total reserves, profits, and excess reserves.&nbsp;</p>
    <p><a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>, in its announcement regarding these financial results, bragged that “the fourth quarter witnessed a record-breaking net <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a> of $2.85 billion, of which ~$1 billion in net operating <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>s (were primarily interests from US Treasuries) with the remaining primarily from the appreciation of Gold and Bitcoin reserves.”</p>
    <p>This growth in profits has funded some of Tether’s new investments, with Tether claiming that it used $640 million of the profits from this quarter to fund its venture investing, something that is now managed “within a new segregated VC umbrella.” Tether has recently been actively invested in energy, mining, staking, and other industries.&nbsp;</p>
    <p>These investments are now purportedly under this new “VC umbrella,” but Tether has been an active venture capital investor for years before this, leading the first equity round in Celsius and the token issued by Samsom Mow’s Infinite Fleet game.&nbsp;</p>
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       The beef between Circle and Tether
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    <p><em>Read more: Tether says it makes money but can’t ditch loans</em></p>
    <p>Additionally, <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> made the claim that it had finally reached the point where “the outstanding secured loans, which are collateralized by highly liquid assets as confirmed in the BDO attestation, are fully covered by the undistributed accumulated <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>s known as excess reserves.” This is important because at the end of 2022, <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> made the assurance that it would “reduce secured loans in <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>’s reserves to zero.”</p>
    <p>Whether or not Tether has achieved this goal depends on whether you consider the category “excess reserves” to be part of the reserves.</p>
    <p>Over the three months since <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>’s last assurance, its market cap has grown by approximately $8 billion. Its claimed reserves have grown by over $10 billion. <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>’s largest competitor, <a rel="noopener noreferrer nofollow" title="Circle" href="https://thebittimes.com/tag/circle.html">Circle</a>, has not seen the same performance over this period; its market cap and amount held in reserves have shrunk by over $300 million.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-s-growth-and-profits-continue-to-dwarf-circle-tbt78406.html">https://thebittimes.com/tether-s-growth-and-profits-continue-to-dwarf-circle-tbt78406.html</a></p>

Tether's growth and profits continue to dwarf Circle

TheBitTimes

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