Summary
Tether, the leading stablecoin issuer, has revealed a robust balance sheet with ownership of over $2.8 billion in Bitcoin. The information was disclosed in an audit conducted by BDO, a reputable auditing firm. The report provides a comprehensive analysis of Tether’s financial standing, including details about its Bitcoin holdings. Tether has been instrumental in the cryptocurrency market, facilitating transactions and maintaining a peg to the US Dollar. The company also reported a profit of $2.85 billion for the last quarter, with about $1.85 billion coming from gold and bitcoin holdings. In 2023, Tether achieved a profit of $6.2 billion.
Key Points
1. Tether, the leading stablecoin issuer, has a robust balance sheet with over $2.8 billion in Bitcoin holdings.
2. The audit conducted by renowned auditing firm BDO confirms Tether’s financial standing and provides comprehensive analysis of its Bitcoin holdings.
3. Tether has achieved a significant profit of $6.2 billion in 2023, with $1.85 billion coming from gold and bitcoin holdings in the last quarter.