Tether USDt

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<p>Tether Holdings Limited released its Q1 2023 assurance opinion on May 10, 2023, completed by BDO Italia, one of the top five-ranked global independent public accounting firms. The attestation confirms the accuracy of Tether&#8217;s Consolidated Reserves Report (CRR) as of March 31, 2023, and introduces additional categories to improve transparency in the company&#8217;s reserve reporting. The CRR reveals that Tether&#8217;s excess reserves have reached an all-time high of $2.44B, a $1.48B increase for the first quarter of 2023.</p>
<h2 style="text-align: center;" id="record-reserves-and-profit">Record Reserves and Profit</h2>
<p>Tether had an exceptional Q1 2023, <a href="https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/">reporting</a> $1.48B in net profit and a 20% increase in token circulation, indicating increased customer trust. These factors contribute to Tether&#8217;s optimistic outlook for the future.</p>
<p>The company closed Q1 2023 with consolidated total assets of $81.8B, primarily invested in US Treasury Bills. Tether has been reducing its reliance on bank deposits and exploring the Repo market to maintain liquidity and offer better protection to its users.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">Tether&#39;s Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and <a href="https://twitter.com/hashtag/Gold?src=hash&amp;ref_src=twsrc%5Etfw">#Gold</a> Allocations<a href="https://t.co/G7QWB2VXqd">https://t.co/G7QWB2VXqd</a> <a href="https://t.co/xUwOf4n1o7">pic.twitter.com/xUwOf4n1o7</a></p>
<p>&mdash; Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1656299990367576072?ref_src=twsrc%5Etfw">May 10, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="high-liquidity-and-diversified-portfolio">High Liquidity and Diversified Portfolio</h2>
<p>Approximately 85% of Tether&#8217;s <a href="https://walletinvestor.com/forecast/tether-prediction">reserves</a> consist of cash, cash equivalents, and other short-term deposits, ensuring high liquidity. The latest report highlights a 25% reduction in secured loans within the overall reserves and the highest percentage of assets allocated in US Treasury Bills.</p>
<p>Gold and Bitcoin account for roughly 4% and 2% of the total reserves, respectively. All newly issued tokens have been invested in US Treasury bills or placed in overnight Repo.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">This beats exchanges, and may be the largest business in crypto now. (not too sure, didn&#39;t check the numbers).<a href="https://t.co/azlH3KK8Xo">https://t.co/azlH3KK8Xo</a></p>
<p>&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1657698901292462080?ref_src=twsrc%5Etfw">May 14, 2023</a></p></blockquote>
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<h2 style="text-align: center;" id="independent-attestation-and-consolidated-assets">Independent Attestation and Consolidated Assets</h2>
<p>BDO Italia&#8217;s independent attestation confirms that Tether&#8217;s consolidated assets surpass its consolidated liabilities. As of May 9, 2023, the company&#8217;s management reported:</p>
<p>Consolidated total assets of at least $81,833,149,345<br />
Consolidated total liabilities of $79,390,359,036, with $79,372,401,626 relating to digital tokens issued<br />
Consolidated assets exceeding consolidated liabilities<br />
Promising Outlook and Ongoing Commitment to Transparency</p>
<p>Paolo Ardoino, Tether&#8217;s CEO, expressed delight at the company&#8217;s Q1 2023 success, with the reserves surplus reaching an all-time high of $2.44B and net profits of $1.48B. Tether continually assesses the risk-adjusted return on its portfolio assets and anticipates further changes in response to the evolving economic environment and market cycles. The company remains dedicated to evaluating global economic conditions and taking steps to protect customers&#8217; funds from high-risk scenarios.</p>
<p>Looking forward to Q2, Tether maintains a highly positive outlook and continues its commitment to transparency by introducing new categories in its quarterly reserves breakdown, offering even greater clarity to users.</p>

CZ Reacted for Tether’s Q1 2023 Assurance Report

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