Tether Scores Massive $4.5 Billion Profit in First Quarter

Recent events include the May 1 release of a BDO assurance opinion, which demonstrates Tether’s strong financial performance and notable turning points in its net equity and Treasury bill holdings.

According to the attestation, Tether’s Treasury bills have seen an incredible rise, topping $90 billion and setting a new record. Together with this accomplishment, the digital asset firm’s broad activities have resulted to a total net equity of about $11.3 billion at this point.

Steady Growth Since Q4

Comparing figures with the previous year’s fourth quarter, Tether has witnessed substantial growth in its ownership of U.S. Treasuries and net equity. From approximately $80 billion and $7 billion, respectively, these numbers have soared, underlining the company’s upward trajectory.

A startling $1 billion in earnings are revealed in the most recent report, mostly from reserve management techniques and stablecoin issuing companies. Remarkably, U.S. Treasury holdings accounted for the majority of earnings, with gold reserves and Bitcoin (BTC) making up the remaining portions.

Tether also hits a big milestone by using cash and cash equivalents to back up to 90% of its fiat-pegged stablecoins, which represents a move toward better risk management. Tether’s CEO, Paolo Ardoino, highlights these figures as evidence of the company’s dedication to prudent risk management, reinforcing its standing as a frontrunner in the cryptocurrency and stablecoin sectors.