Tether U.S. Treasuries Holdings Surpass Australia, UAE, Spain

Odaily Planet Daily News Cryptocurrency analyst Miles Deutscher tweeted that Tether currently holds more U.S. Treasury bonds than Australia, the United Arab Emirates and Spain. In addition, Tether’s operating profit in the second quarter also exceeded $1 billion. BlackRock, the world's largest asset manager, posted an operating profit of around $1.6 billion for the quarter. Prior to the news on July 31, Tether announced the "2023 Q2 Assurance Opinion" completed by the independent accounting firm BDO. The report shows that Tether's excess reserves increased by US$850 million to US$3.3 billion. From April 2023 to June 2023, Tether's operating profit exceeded US$1 billion, a quarter-on-quarter increase of 30%. Tether also disclosed stock repurchases, the amount up to $115 million. The group’s consolidated total assets were US$86,499,251,218 and the group’s consolidated total liabilities were US$83,200,775,340, of which US$83,178,020,411 was related to digital token offerings.