Tether reports $2.85 billion net profit in Q4 2023. Tether’s total profit for 2023 is $6.2 billion

Tether is the issuer of USDT stablecoin. Tether is the 3^rd largest stablecoin by market cap, only after Bitcoin and Ethereum.

Tether Holdings Limited (BVI) released its fourth quarter financial performance of 2023.

Financial performance of Tether’s Q4 2023

Profit for the 4^th quarter is $2.85 billion.

-$1 billion in net operational profit mainly from U.S. Treasury Bill interests.

-$1.85 billion from gold and bitcoin holdings.

Tether’s Q4 2023 reserves

90% of Tether’s reserves are cash and cash equivalent. Tether has $5.4 billion excess equity on top of 100% reserves.

As of Jan 1, 2024, Tether has market cap of $96.147 billion. Tether’s total T-Bill exposure (direct and indirect) is $80.3 billion.

Tether has $2.8 billion bitcoin reserve, $3.5 billion gold reserve.

Tether’s total profit for 2023 is $6.2 billion. 

Paolo Ardoino 🍐 on X: "Tether Q4/2023 attestation is out.