Tether’s ‘Record-Breaking’ Q4 Profits Credited in Part to Appreciating Gold and BTC Prices
In the last quarter of 2023, Tether Holdings Ltd. reported a “recorded net profit of $2.85 billion”. Overall, the stablecoin issuer's net profit in 2023 is expected to increase to $6.2 billion. “Undistributed retained earnings are fully covered by excess reserves ($5.4 billion) of Tether-backed loans held by highly liquid assets ($4.8 billion).” Bitcoin […]
