Tether: Towards explosive growth?

Tether Holdings is bolstering its financial transparency with $72.5 billion exposure to US Treasuries. Its excess reserves increase by $850 million, adding to the stability of the business.

Tether has 2.5 billion USD in excess reserves according to Paolo Ardoino

Increase in excess Tether reserves and exposure to US Treasuries

Since the beginning of the year, Tether has been exploding the counters. Recently he published his insurance notice for the second quarter of 2023. The latter has been certified by the accounting firm BDO.

This attestation confirms the accuracy of Tether’s Consolidated Reserves Report (CRR) as of June 30, 2023. The CRR reveals in particular an overall exposure of $72.5 billion to US Treasuries.

The assurance notice details the US Treasuries held by Tether’s money market funds and those backing its Overnight Repo. He also mentions a significant increase in excess reserves of Tether: around $850 million during the second quarter, thus reaching a total of approximately $3.3 billion.

Note that the excess reserves correspond to the own profits of Tether, kept in addition to the 100% reserves intended to safeguard all the tokens in circulation.

Energy-related investments and consolidation of the shareholder group

Besides increasing excess reserves, Tether also announced investments in energy-related initiatives. Financed by second quarter profits, they are not included in the CRR. Indeed, they are not considered as eligible reserves for the tokens in circulation.

This decision demonstrates Tether’s desire to diversify its activities and contribute to energy-related projects.

THE report also reports a share buyback worth $115 million. A healthy consolidation measure that aims to strengthen Tether’s shareholder group. Overall, Tether’s operational profits exceeded $1 billion for the period from April 2023 to June 2023.

Through these data, Tether thus confirms its financial stability. His investments reflect his vision for a confident and innovative financial future.

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