Tether Reports $1.48Bn In Q1 Profit, Reveals Bitcoin and Gold Holdings
The attestation shows that Tether is holding $53 billion worth of U.S. Treasury Bills, $3.3 billion worth of gold, and $1.5 billion worth of bitcoin.
- "Tether Holdings Limited published its assurance opinion for Q1 of 2023 completed by BDO Italia, a top five-ranked global independent public accounting firm."
- The attestation reveals an increase in Tether's excess of reserves reaching an all-time high of $2.44B, up $1.48B for the first quarter of 2023.
- "Tether closed the first quarter 2023 with $81.8B in consolidated total assets."
- "Tether's reserves remain extremely liquid, with the majority of its investments being held in cash, cash equivalents, and other short-term deposits (approximately 85%)," the company said.