Veröffentlicht von Tether Reports $700 Million Net Profit in Q4 2022
- Stablecoin issuer Tether reported a net profit of $700 million in Q4.
- The December report was attested by the accounting firm BDO with consolidated assets exceeding liabilities as of Dec. 31, 2022.
- Tether CTO Paolo Ardoino commented on this news and said that Tether has issued over $10 billion USDT during the year, an indication of continued organic growth and adoption of Tether.
Attestation Report Published
Stablecoin issuer Tether published its latest attestation report on Thursday, February 9th. The company reported a net profit of $700 million in the previous quarter despite the ongoing bear market. The report revealed that Tether’s reserves remain extremely liquid, with the majority of its investments being held in cash, cash equivalents, and other short-term deposits. The December report was attested by the accounting firm BDO and showed that the company’s consolidated assets exceeded its liabilities as of Dec. 31, 2022. This is the first time that Tether had disclosed its profit figures.
Reserves Strengthened
Tether pointed out that the reported profit is part of shareholder equity, which is what is left after considering reserves. A company spokesperson added that „It’s basically additional capital sitting in the company to further strengthen Tether.“ The stablecoin issuer also revealed that its consolidated total assets amounted to at least $67.04 billion in Q4 while its consolidated total liabilities amounted to $66.08 billion; reflecting excess reserves of at least $960 million.