Tether’s Q1 2023 Report Shows $2.44B Excess Reserves, $81.8B Total Assets
Key Points:
- Tether’s Consolidated Reserves Report for Q1 2023 reveals an all-time high of $2.44B over reserves and $81.8B in total assets, with most reserves invested in US Treasury Bills.
- The firm is committed to transparency and highlights its financial stability, reassuring investors and customers of its position as a trusted player in the cryptocurrency market.
Tether’s Consolidated Reserves Report for Q1 2023 shows an all-time high of $2.44B over reserves, with $81.8B in total assets.
The report breaks down the assets held by the group as of March 31, 2023, revealing an increase in Tether’s excess of reserves reaching an all-time high of $2.44B, up $1.48B for the first quarter 2023. It closed the first quarter of 2023 with $81.8B in consolidated total assets, with most of its reserves invested in US Treasury Bills.
Tether’s reserves remain highly liquid, with most of its investments in cash, cash equivalents, and other short-term deposits (approximately 85%). The CRR also indicates, and BDO independent attestation confirms, that Tether’s consolidated assets once again exceed its consolidated liabilities.
Tether’s net profits for the first quarter of 2023 were $1.48B, a testament to the strength and stability of its platform. The company continuously monitors the risk-adjusted return on all assets within its portfolio. It expects to make further changes as the overall economic environment changes and the market cycle progresses as a part of its regular, ongoing risk management processes.
Tether has taken necessary steps to ensure its customers’ funds are not exposed to high-risk scenarios. It has introduced new categories in the reserves’ breakdown in the quarterly report to provide even greater transparency to its users. Looking ahead to Q2, the company remains committed to transparency and has a positive outlook.
Tether’s assurance opinion for Q1 of 2023, completed by BDO Italia, a top-five-ranked global independent public accounting firm, demonstrates the company’s commitment to transparency and highlights the strength and stability of its platform. Tether has solidified its position as a trusted and reliable player in the cryptocurrency market by reassuring investors and customers of its financial stability.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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Tether’s Q1 2023 Report Shows $2.44B Excess Reserves, $81.8B Total Assets
Key Points:
- Tether’s Consolidated Reserves Report for Q1 2023 reveals an all-time high of $2.44B over reserves and $81.8B in total assets, with most reserves invested in US Treasury Bills.
- The firm is committed to transparency and highlights its financial stability, reassuring investors and customers of its position as a trusted player in the cryptocurrency market.
Tether’s Consolidated Reserves Report for Q1 2023 shows an all-time high of $2.44B over reserves, with $81.8B in total assets.
The report breaks down the assets held by the group as of March 31, 2023, revealing an increase in Tether’s excess of reserves reaching an all-time high of $2.44B, up $1.48B for the first quarter 2023. It closed the first quarter of 2023 with $81.8B in consolidated total assets, with most of its reserves invested in US Treasury Bills.
Tether’s reserves remain highly liquid, with most of its investments in cash, cash equivalents, and other short-term deposits (approximately 85%). The CRR also indicates, and BDO independent attestation confirms, that Tether’s consolidated assets once again exceed its consolidated liabilities.
Tether’s net profits for the first quarter of 2023 were $1.48B, a testament to the strength and stability of its platform. The company continuously monitors the risk-adjusted return on all assets within its portfolio. It expects to make further changes as the overall economic environment changes and the market cycle progresses as a part of its regular, ongoing risk management processes.
Tether has taken necessary steps to ensure its customers’ funds are not exposed to high-risk scenarios. It has introduced new categories in the reserves’ breakdown in the quarterly report to provide even greater transparency to its users. Looking ahead to Q2, the company remains committed to transparency and has a positive outlook.
Tether’s assurance opinion for Q1 of 2023, completed by BDO Italia, a top-five-ranked global independent public accounting firm, demonstrates the company’s commitment to transparency and highlights the strength and stability of its platform. Tether has solidified its position as a trusted and reliable player in the cryptocurrency market by reassuring investors and customers of its financial stability.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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