Tether Reports $1.04 Billion Profit and Record Reserves in Q1
- Tether posted a net profit of $1.04 billion for the first quarter.
- Excess reserves reached an all-time high of $8.23 billion, up from $6.3 billion at the end of the previous year.
- The total liabilities related to USDT stood at approximately $183 billion as of March 31.
- Tether’s total assets are just under $192 billion, with significant holdings in U.S. Treasuries.
- USDT is currently the third-largest cryptocurrency, following Bitcoin and Ethereum, with a market capitalization nearing $190 billion.
The report highlights Tether’s strong financial position amid rising global demand for stablecoins, which are increasingly used for international payments and trading activities. Visa’s recent expansion into stablecoin settlements across multiple blockchains underscores this trend.
With a reported profit of over $10 billion for the previous year and record reserves, Tether continues to solidify its role in the cryptocurrency market.(Source)
