Introduced right this moment, Tether, the main stablecoin issuer, has emerged with a strong steadiness sheet showcasing possession of over $2.8 billion in Bitcoin. The knowledge involves mild following an audit performed by BDO, a famend auditing agency, as detailed within the official auditor’s report.
The audited report supplies a complete evaluation of Tether’s monetary standing, together with extra info on its Bitcoin holdings. Tether, identified for its stablecoin USDT, has constantly performed a large function within the cryptocurrency market, facilitating transactions and sustaining a peg to the US Greenback.
“At Tether, we look ahead to nice 2024, with many new initiatives and merchandise prepared to return alive,” stated Tether CEO Paolo Ardoino. “I am actually excited by Tether’s growth. Whereas Tether is usually identified for one product (USDT), the corporate is changing into an investor and infrastructure builder in lots of strategical sectors, spacing from AI to P2P telecommunications, from Bitcoin mining to renewable power manufacturing.”
The corporate additionally had a $2.85 billion revenue for final quarter, of which about $1.85 billion got here from gold and bitcoin holdings. For all of 2023, Tether achieved a revenue of $6.2 billion.
