Top Stablecoin Tether (USDT) Reports $700,000,000 Profit and Zero Commercial Paper Holdings in Q4

Global accounting firm BDO’s latest proof report confirms stablecoin issuer Tether’s claims that it finally removed its commercial paper holdings from its reserves in Q4 2022.

BDO’s Independent Accountants Report, released on February 8, reviewed Tether’s Consolidated Reserve Report (CRR) as of December 31, 2022.

report agree with Accuracy of CRR. show The company has no commercial paper holdings and consolidated total assets of at least $67 billion, which exceeds liabilities of just over $66 billion.

The CRR also shows that Tether has reduced its secured loans by $300 million and increased its allocation to US Treasury bills, which currently account for 58% of its assets.

“In our opinion, the CRR prepared by the Group’s management as at 31 December 2022, in all material respects, is fairly presented in accordance with standards, including management’s key accounting policies. increase.”

Tether CTO Paolo Ardoino To tell The company was also able to generate more than $700 million in net profit despite a crypto winter that saw the rest of the industry down in Q4 2022.

“Tether has demonstrated a superior approach to risk management. [it] To maintain its leadership while consolidating its interests. Having a safe, conservative, and profitable business that doesn’t need to beg for money from VCs has always been his main focus with Tether. “

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