Stablecoin Issuer Tether Reports $700M Profit for Q4 2022
Business
Tether, issuer of the world's largest stablecoin, USDT, reported $700 million in fourth-quarter profit in its latest attestation report.
The profit has been added to Tether's reserves. Excess reserves stood at least $960 million at the end of 2022.
Assets as of the Dec. 31 stood at $67 billion with liabilities of $66 billion, almost all of which relates to digital tokens issued.
Tether also said it ended 2022 with zero commercial paper.
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