- Tether announced a $700 million profit in the last quarter of 2022.
- A top-ranking global accounting firm attested to the accuracy of Tether’s reserve.
- During the 2022 chaotic events, Tether processed over $21 billion.
Tether Holdings Limited, the issuer of the largest stablecoin, USDT, said it no longer holds any short-term, unsecured debt against its balance sheet after announcing a $700 million profit in a recent blog post.
In the report published today, the stablecoin issuer said it ended 2022 with zero commercial paper and at least $67 billion in consolidated total assets and excess reserves of at least $960 million. Tether also maintained that its reserves remain highly liquid, with most of its investments being held in cash, cash equivalents, and other short-term deposits.
Tether boasts a $300 million reduction in secured loans and more than $700 million net profit in the last quarter of 2022. Furthermore, Tether said it submitted its 2022 Consolidated Reserves Report (CRR) to BDO, a top five-ranked global independent public accounting firm.
BDO attested to the accuracy of the firm’s CRR, adding that its consolidated assets exceed its consol…
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