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Tether's net profit in the fourth quarter reached a record high of $2.85 billion

Tether's net profit in the fourth quarter reached a record high of $2.85 billion

2024/01/31 14:43

Tether releases Q4 proof of report. From a financial performance perspective, net profit in the fourth quarter reached a record high of $2.85 billion, with operating net profit at approximately $1 billion (mainly from US Treasury bond interest), and the rest mainly from appreciation of gold and Bitcoin reserves. Excess reserves reached a historical high, increasing by $2.2 billion to a total of $5.4 billion, with the remaining $640 million invested in various strategic projects such as mining, artificial intelligence infrastructure, P2P telecommunications, etc. The group's net profit for 2023 is $6.2 billion, with approximately $4 billion coming from net operating profits generated by US Treasury bonds, reverse repurchase agreements, and money market funds; the remainder comes from the performance of other asset categories.

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