Tether Now Holds More U.S. Treasuries Than Australia, UAE, and Spain

Tether, the world’s foremost stablecoin, has continued its impressive ascent with an awe-inspiring performance in Q2 2023. Over this quarter, Tether pushed a record-breaking $86.5 billion in assets and posted $1 billion in profits, illustrating the company’s potent financial might. Adding immense leverage to its financial assets is Tether’s strategic funding of U.S. Treasury Bills, which now total a daunting $55.8 billion, outseedling even the U.S. treasury holdings of Australia, UAE, and Spain. Pundits have posited that these surging profits generate a healthy comparison to those of BlackRock, the world’s most prominent asset manager. Furthermore, Tether added to their Bitcoin caches in Q2 with an additional 2,310 coins worth $70 million. This has caused the company’s stash of Bitcoins to escalate from 52,698 to 55,008, edging a valuation of $1.67 billion. Although they announced an allocating of 15% of their profits to Bitcoin early this year, they have only put 7% into crypto up to this point.

Similarly, an abundance of safety has been sought due to their greatly enlarged excess funds, now funded at an imposing $3.3 billion and meant for circulating tokens. Paolo Ardoino, the CTO of Tether, additionally asserted how Tether invested proceeds from Q2 in energy related operations that would further the cutting-edge events in the technology sphere. Such deposits are not seen in the Consolidated Reserves News since they’re solely used on items incapable of listing as reserves. All in all, these exhibited goods are unmistakable sign of Tether’s stability and resolute capabilities.

Robert Wilson author
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