USDT Issuer Tether Reports $700 Million Profit in Q4 2022

• At the end of the year, Tether had no commercial paper outstanding.
• Paolo Ardoino said that Tether is increasing spending on education.

According to its most recent attestation report, Tether Holdings Limited, the issuer of the biggest stablecoin USDT, earned $700 million in the fourth quarter. In this case, the value of the consolidated assets is more than the total of the consolidated liabilities.

At the conclusion of the year, Tether, a stablecoin issuer, had no commercial paper outstanding, at least $67 billion in consolidated total assets, and at least $960 million in surplus reserves. Further, it fulfilled its goal to lower its secured loans by year’s end and would continue doing so during 2023.

CTO of Tether Paolo Ardoino tweeted today that the organization has shown a better approach to risk management. Consequently, the stablecoin issuer has been able to keep its position at the top and concentrate its earnings.

Increasing Spending on Education

BDO, one of the top five worldwide independent public accounting firms, has prepared the assurance report. Showing a consolidated total liability of over $66 billion, 99.9% of which is accounted for by digital tokens. All of Tether’s reserves are easily accessible in the form of cash, currency equivalents, and other short-term deposits. As a result, the proportion of US Treasury Bills that are directly exposed has increased to a record high of more than 58%.

Additionally, Paolo Ardoino said that Tether is increasing spending on education, particularly in developing countries. The point is to clarify why purpose-built financial infrastructure is so far superior to speculative infrastructure.

In November, USDT’s market valuation dropped from $80 billion to $65.3 billion. In spite of this, Tether’s market worth has grown since December thanks to its promise to cut down on commercial paper exposure and secured loans.