Tether Reported Net Profit Of $700 Million In Q4 2022

Tether Holdings Limited, the company who created Tether stablecoin (USDT), reported a net profit of $700 million in fourth quarter of 2022. Tether is the largest stablecoin with the market cap of $69 billion. As of February 13, 2023, Tether market share in stablecoin industry made up 49.39%. Tether, Circle, and Paxos are the issuers of USDT, USDC, and BUSD.

Tether's Reserves Breakdown

Tether makes money from withdrawal fees, investment in money market funds, and providing loans to other institutions. 71.25% of Tether reserves are US treasure bills, only 9.66% of reserves are cash and cash deposits. 13.39% of reserves come from money market funds. Secured loans make up 8.73% of Tether reserves.

Stablecoins market share

Tether 49.39%

USDC 29.76%

BUSD 11.63%