Tether Achieves Record Profits and Expands Bitcoin Holdings in Q4 2023

Tether Achieves Record Profits and Expands Bitcoin Holdings in Q4 2023



Tether has announced a record-breaking increase in the excess reserves of USDT, alongside substantial net earnings in the final quarter of 2023.



The Q4 financial review revealed that the stablecoin provider, Tether (USDT), accrued $2.8 billion in net gains, primarily due to the rise in value of its Bitcoin (BTC) and gold assets. Additionally, U.S. Treasury bills contributed $1 billion in net operational earnings, boosting the company's excess reserves to an impressive $5.4 billion.



This represents a significant $2.2 billion growth from the preceding quarter. Tether reinvested some of these profits in various initiatives including Bitcoin mining, artificial intelligence research, peer-to-peer communication technologies, and other innovative projects.



BDO, the auditing firm chosen by Tether, confirmed that the company's excess


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations, #Stable, #Stablecoin, #Tether, #USDT

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