TETHER, the cryptographic company behind the largest USDT in Stablecoin, said on Friday that it generated net profits of $ 13 billion on the group in the year last year during a record year.
Some $ 7 billion in profits from the vast business treasury of the company and the company’s assets, and $ 5 billion in the unrealized assessment of gold and bitcoin (BTC) assets of the company . Other investments have contributed to $ 1 billion.
According to the last quarterly certificate from the company signed by the accounting firm BDO Italy, the stablecoin transmitter of the Tether International Limited and Tether Limited group revealed $ 143.7 billion in reserve against $ 136.6 billion Passive, adding up to $ 7 billion in surplus reserves supporting its stablecoins. Cash invoices in the reserve reached $ 94.5 billion.
The group also increased its Bitcoin holdings in the last quarter for the first time since March, holding nearly 84,000 BTC worth around $ 7.8 billion at the end of the year, according to the certificate.
Read more: Tether brings his stablecoin usdt of $ 140 billion to bitcoin and lightning networks
Tether’s USDT is the fourth largest cryptocurrency with its market capitalization of $ 140 billion, and a key infrastructure element for digital asset trading and more and more popular in developing regions for payments, funding and economies in US dollars. However, several exchanges have been canceled or announced to recently suspend the USDT for EU users due to the mica regulations, which reduces the reduction in the supply of the token.
The company announced this year its intention to move its headquarters to El Salvador, the friendly nation-state for Bitcoin in Central America which has become an emerging hub for cryptographic companies under the direction of President Nayib Bukele.
