{"id":22621,"date":"2023-07-31T18:04:18","date_gmt":"2023-07-31T18:04:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tethers-excess-reserves-increased-by-850m-to-3-3b-in-q2\/"},"modified":"2023-07-31T18:04:18","modified_gmt":"2023-07-31T18:04:18","slug":"tethers-excess-reserves-increased-by-850m-to-3-3b-in-q2","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tethers-excess-reserves-increased-by-850m-to-3-3b-in-q2\/","title":{"rendered":"Tether\u2019s excess reserves increased by $850M to $3.3B in Q2"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677177880268-c5541266-e4ca-423d-9332-4786ff93b5ff-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677177880268-c5541266-e4ca-423d-9332-4786ff93b5ff-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677177880268-c5541266-e4ca-423d-9332-4786ff93b5ff-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677177880268-c5541266-e4ca-423d-9332-4786ff93b5ff-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Tether\u2019s excess reserves for the USDT stablecoin hit $3.3 billion in Q2.<\/li>\n<li dir=\"ltr\">An attestation report for the quarter by BDO showed operational profits of over $1 billion.<\/li>\n<li dir=\"ltr\">Tether\u2019s consolidated liabilities was roughly $83.17 billion, while exposure to US Treasuries totaled $72.5 billion.<\/li>\n<\/ul>\n<p dir=\"ltr\">Tether Holdings Limited, the company behind the USDT stablecoin, saw its reserve assets held in excess rise to $3.3 billion in Q2, 2023, according to an <a href=\"https:\/\/tether.to\/en\/tether-excess-reserves-increase-by-850m-to-reach-3-3b-as-leading-stablecoin-reveals-72-5b-overall-exposure-in-us-t-bills-and-unveils-energy-related-investments\/\" rel=\"noopener noreferrer\" target=\"_blank\">attestation report<\/a> for the quarter released on Monday.<\/p>\n<p dir=\"ltr\">The stablecoin issuer\u2019s Consolidated Reserves Report (CRR) for the quarterly period ending June 30, 2023 was prepared by the accounting firm BDO. Per the assurance report, <a href=\"https:\/\/coinjournal.net\/news\/tag\/tether\/\">Tether<\/a> saw its excess reserves increase by $850 million during the quarter to reach $3.3 billion.<\/p>\n<p dir=\"ltr\">As of 30 June 2023, Tether\u2019s consolidated total assets were $86,499,251,218, while consolidated total liabilities stood at $83,200,775,340. According to the company, $83,178,020,411 of this was related to the digital tokens it has issued.<\/p>\n<p dir=\"ltr\">With USDT the firm\u2019s largest token, total US Treasuries backing USDT by end of Q2 was $72.5 billion, details shared in the report showed.<\/p>\n<p dir=\"ltr\">\u201c<em>I am immensely proud of our most recent reserves attestation, reaffirming our unwavering commitment to transparency<\/em>,\u201d Tether CTO Paolo Ardoino said.<\/p>\n<p dir=\"ltr\">\u201c<em>Transparency is not just a buzzword for us; it is the cornerstone of our philosophy. We believe that open communication and strong financials foster trust and reliability, and this is what the global community deserves especially in a year devastated by many failures across the banking and crypto industry<\/em>.\u201d<\/p>\n<p dir=\"ltr\">Tether also revealed operational profits of over $1 billion for the quarter, signaling a 30% increase in operational profits QoQ. The impressive returns come after the company announced net profits of $1.45 billion in Q1, 2023.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tethers-excess-reserves-rose-to-3-3b-in-q2-report\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Tether\u2019s excess reserves for the USDT stablecoin hit $3.3 billion in Q2. An attestation report for the quarter by BDO showed operational profits of over $1 billion. Tether\u2019s consolidated liabilities was roughly $83.17 billion, while exposure to US Treasuries totaled $72.5 billion. Tether [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22621"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22621"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22622"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}