Tether Posts Strong Profit with Growing Excess Buffer

Tether, the leading stablecoin issuer, has released its quarterly financial snapshot. According to a report from Big Four accounting firm BDO, Tether generated $1.04 billion in profit during the last quarter.

The company's total assets have grown to $191.77 billion, with total liabilities standing at $183.54 billion. This leaves an excess buffer of $8.23 billion, representing a significant increase from the $6.34 billion reported in Q4 2022.

Tether's reserves are primarily composed of cash and cash equivalents, accounting for approximately 73.6% of total assets. Within this category, U.S. Treasury bills make up the largest portion, valued at around $117 billion.

The remaining reserves are spread across various investments, including precious metals, secured loans, bitcoin, and public equities. Tether's on-chain bitcoin holdings were valued at a price of $68,193.95 per coin as of March 31st, while its physical gold was marked at $4,668.06 per ounce.