Billion

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 <p><a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> has recently been involved in several developments and announcements within the cryptocurrency space. These include allocating 15% of its profits to acquire Bitcoin, revealing its $1.5 billion BTC reserve, and deciding to initiate Bitcoin mining operations in Uruguay. Additionally, it also launched on the KAVA blockchain in June.</p> 
 <p>Now, in its recent independent auditors report for Q2 released on Monday, <a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a> issuer <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> has disclosed an excess of $3.3 billion in reserve assets to back <a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a>.</p> 
 <p><strong>Also read:&nbsp;Ripple Predicts Blockchain’s Potential to Save Financial Institutions $10B</strong></p> 
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 <h2 class="wp-block-heading" id="h-tether-s-q2-attestation-reveals-72-5b-in-us-treasury-exposure">Tether’s Q2 attestation reveals $72.5B in US Treasury exposure</h2> 
 <p>According to the Q2 attestation, the stablecoin issuer has an exposure of $72.5 billion to US Treasuries. These include deposits in money market funds, repurchase agreements, and direct T-bill investments.</p> 
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 <p>Details from the filing reveal that, as of June 30, the company’s bitcoin (BTC) holdings saw an increase in dollar value, rising to $1.67 billion from $1.5 billion three months prior. <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a>, which revealed $1.45 billion in net profits in the first quarter, witnessed its operational profits surge by another billion dollars.</p> 
 <p><strong>Also read:&nbsp;Dogecoin Army Buzzing with Anticipation After Elon Musk’s Tweet</strong></p> 
 <p><a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> issued <a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a>, is the largest stablecoin by market cap. Details from CoinGecko&nbsp;reveal that <a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a>’s market cap currently stands at $83.8 billion, with a 0.7% surge in the last 30 days.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>Tether</li> 
  <li>USDT</li> 
 </ul> 
</div>

Tether Q2 Report Reveals $3.3 Billion in Excess Reserves

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