Tether attestation report shows overcollateralized reserves and Q4 2022 profits of $700 million Tether USDT stablecoin
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According to the report, the majority of Tether’s investments are being held in cash, cash equivalents, and other short-term deposits, which means they are highly liquid. This is a significant improvement over last year's results, which showed a large portion of the company's reserves were backed by commercial paper, including Chinese commercial paper.
Tether’s consolidated reserves report also indicates that as of Dec. 31, the firm's consolidated assets exceeded its consolidated liabilities, which BDO confirmed. At the time, the company’s consolidated total assets were over $67 billion, while its consolidated total liabilities were slightly more than $66 billion, of which the vast majority “relates to digital tokens issued.”
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