Tether: Reserve surplus is $2.44 billion, bank deposits have fallen by over 90%

Tether issued a document stating that Tether’s net profit was US$1.48 billion, its reserve surplus was US$2.44 billion, a record high, and bank deposits decreased by more than 90%. Tether said it is continuing its commitment to reduce its secured loans to zero, gradually reducing from 8.7% to 6.5%, and that Tether holds more than $53 billion in U.S. Treasury bonds, accounting for more than 64% of its total reserves, a record high.