Introduced these days, Tether, the chief stablecoin issuer, has emerged with a powerful stability sheet showcasing possession of over $2.8 billion in Bitcoin. The tips involves brightness following an audit carried out via BDO, a famend auditing company, as impressive within the respectable auditor’s record.
The audited record supplies a complete research of Tether’s monetary status, together with additional info on its Bitcoin holdings. Tether, recognized for its stablecoin USDT, has constantly performed a immense position within the cryptocurrency marketplace, facilitating transactions and keeping up a peg to the USA Buck.
“At Tether, we look forward to great 2024, with many new projects and products ready to come alive,” stated Tether CEO Paolo Ardoino. “I’m really excited by Tether’s expansion. While Tether is mostly known for one product (USDT), the company is becoming an investor and infrastructure builder in many strategical sectors, spacing from AI to P2P telecommunications, from Bitcoin mining to renewable energy production.”
The corporate additionally had a $2.85 billion benefit for extreme quarter, of which about $1.85 billion got here from gold and bitcoin holdings. For all of 2023, Tether accomplished a benefit of $6.2 billion.
