CEO of Tether, Paolo Ardoino, published a summary of Tether's Q4 2023 financial report on social media on January 31. Distinct highlights of the summary include:
· Tether reported a Q4 2023 profit of $2.85 billion, of which around $1 billion represented net profit mainly derived from US Treasury interest, and roughly $1.85 billion originated from its gold and Bitcoin holdings.
· The total profit for Tether in 2023 was $6.2 billion.
· Cash and cash equivalents, accounting for 90% coverage of all issued tokens, the highest proportion ever recorded in Tether's history.