Tether (USDT) Announces Last Quarter Report! How Much Money He Made!

world’s largest stablecoin USDTissuer of Tether announced the 4th quarter report of 2022.

Despite a difficult 2022 year Tether reported a profit of $700 million in its last quarter report.

The report stated that Tether’s assets exceeded its liabilities as of December 31, 2022.

Tether made the following statements in its statement while publishing its December report, which was approved by accounting firm BDO:

“Tether’s reserves remain highly liquid, as most of its investments are held in cash, cash equivalents and other short-term deposits.

This latest report demonstrates Tether’s commitment to transparency.”

The report also stated that Tether’s assets were 67 billion dollars and liabilities were 66 billion dollars, and almost all of these liabilities were related to the issued digital tokens.

Tether CTO Paolo Ardoino In his statement he said:

“With the presentation of this latest consolidated reserve report, Tether continues to deliver on our promise to lead the industry in transparency.

After the turbulent end of 2022, Tether has distinguished itself from the industry’s bad guys by once again proving its stability, resilience and ability to handle bear markets and black swan events.

Not only did we seamlessly process over $21 billion in redemptions during the chaotic events of the year, but Tether has also issued over $10 billion₮, indicative of continued organic growth and Tether adoption.

In the last quarter, Tether made a profit of over $700 million by increasing its reserves.

We are proud that Tether continues to be a driving force in rebuilding trust in the crypto industry and we are committed to continuing to set a positive example for both our peers and competitors.”