Tether posts $1.04 billion in first-quarter profit, reaches $8.23 billion reserve buffer
CoinDesk
Tether reported a $1.04 billion Q1 net profit, pushing its record excess reserves to $8.23 billion amid high market demand.Summary
Stablecoin issuer Tether announced a net profit of $1.04 billion for the first quarter, alongside a record-breaking $8.23 billion in excess reserves. The company maintains total assets of nearly $192 billion against liabilities of $183 billion. These reserves are bolstered by significant holdings in U.S. Treasuries, gold, and bitcoin, with Tether currently ranking as a top 10 global buyer of U.S. government debt.
(Source：CoinDesk)