According to the latest financial report, Tether Holdings' net profit has increased sharply compared to the previous year. For example, in the fourth quarter of 2022, the company earned only $700 million.
In 2022, Tether's total assets were $67 billion, and excess reserves = $960 million. At the end of 2023, total excess reserves exceeded $5.4 billion. This is an absolute record in the history of the company. The firm's total assets increased to $97 billion.
The rapid growth in net income is largely due to interest earned on US Treasury bonds, which provide liquidity to USDT stocks. Additionally, Tether Holdings made money on the rise in the price of gold and the revaluation of its own reserves in bitcoins.
In 2023, Tether's share of the stablecoin market increased from 50% to 71%. CEO Paolo Ardoino has repeatedly called the USDT stablecoin an example of resilience and innovation.
Tether recently filed an application for four trademarks with the Russian Federal Service for Intellectual Property.
Source: Bits

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