<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/tether-now-holds-more-u-s-treasuries-than-australia-uae-and-spain/">Tether Now Holds More U.S. Treasuries Than Australia, UAE, and Spain</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Tether, the world’s largest stablecoin, continues its skyward ascent, reporting an impressive Q2 2023. Assets soared by 5.7% to a record-breaking $86.5 billion, and operational profits surged by 30% to over $1 billion from the previous quarter.</p> 
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   <p lang="en" dir="ltr">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.<br><br>Read more <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/zoEHWMawEM" rel="noopener noreferrer nofollow">https://t.co/zoEHWMawEM</a> <a href="https://t.co/N4vk3EUQnw" rel="noopener noreferrer nofollow">pic.twitter.com/N4vk3EUQnw</a></p>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1685992813148663808?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2023</a> 
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<h2 id="treasury-triumphs-and-a-bitcoin-bonanza" data-name="treasury-triumphs-and-a-bitcoin-bonanza" class="wp-block-heading"><strong>Treasury Triumphs and a Bitcoin Bonanza</strong></h2> 
<p>Significantly contributing to Tether’s financial muscle is its strategic investment in U.S. Treasury Bills, now totaling $55.8 billion, outpacing even Spain’s holdings. Notably, this figure surpasses the U.S. treasury holdings of Australia, UAE, and even Spain. According to crypto analyst <a href="https://twitter.com/milesdeutscher/status/1686656329601970176" rel="noopener noreferrer nofollow">Miles Deutscher</a>, Tether’s impressive operational profits rival those of BlackRock, the world’s largest asset manager.</p> 
<p>The company’s Q2 also saw a notable increase in its Bitcoin reserve, with an additional purchase of 2,310 Bitcoins amounting to $70 million. This move has seen Tether’s Bitcoin stacks climb from 52,698 in Q1 to 55,008 in Q2, now valued at $1.67 billion.</p> 
<p>However, despite its announcement earlier this year to invest 15% of profits in Bitcoin, data indicates that the company has only allocated 7% so far.</p> 
<h2 id="excess-reserves-tethers-financial-buffer" data-name="excess-reserves-tethers-financial-buffer" class="wp-block-heading"><strong>Excess Reserves: Tether’s Financial Buffer</strong></h2> 
<p>Tether is demonstrating remarkable financial resilience with its excess reserves, totalling $3.3 billion at the end of Q2. This decision to hold back a significant portion of its profits, over and above the 100% reserve necessary to back its issued tokens, adds a layer of security and resilience to its stablecoin products.</p> 
<p>Paolo Ardoino, CTO of Tether, <a href="https://twitter.com/paoloardoino/status/1685993811774738432" rel="noopener noreferrer nofollow">revealed</a> the company’s investments in energy-related initiatives funded from Q2 profits, a move seen as a key step in pushing the boundaries of technological innovation. These investments are not included in the Consolidated Reserves Report as they are not considered as eligible reserves for circulating tokens.</p>

Tether Now Holds More U.S. Treasuries Than Australia, UAE, and Spain

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