Tether (USDT) Reports $1.5 Billion Net Profit in Q1 2023 Amid Banking Turmoil in The United States

05/14 10:45

Tether (USDT) has emerged as the preferred stablecoin amidst the banking turmoil in the United States. The latest attestation report shows that Tether recorded a net profit of almost $1.5 billion in the first quarter of 2023. Tether's excess reserves reached an all-time high of $2.44 billion in Q1, and the stablecoin ended the quarter with $81.8 billion in consolidated total assets.

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