Tether in heaven: its USDT stablecoin earns it $700 million
Dollars galore – THE stablecoins and the decentralized finance (Challenge) help each other for their adoption and development. As the main US dollar stablecoin, theUSDT of the society Tether keep on benefit of this need for stable assets, necessary to navigate within the high volatility of the crypto market.
THE balance sheet of Tether for the 4e quarter 2022 has just been published, and it confirms this infatuation for stablecoins. According to the document reported by The Block, the USDT-issuing company has made $700 million of net profits over the last 3 months of the past year.
This profit is part of equity [de l’entreprise]i.e. what is in excess of the reserves [garantissant la parité 1 pour 1 de l’USDT avec le dollar]. (…) This is essentially additional capital that remains in the company to further strengthen Tether. »
Tether spokesperson quoted by The Block
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