Tether: Tether has generated over $700 million in net profit, and after adding to its reserves, the excess reserves amount to $960 million

ChainCatcher news, Tether's official statement in "The Evolution of Tether's Reserves" pointed out that in 2022, Tether reduced commercial paper risk to zero, with no liquidity gaps for USDT holders, and Tether did not shrink. USDT is now supported by over 81% cash and cash equivalents, including over $39 billion in direct exposure to U.S. Treasury securities, money market funds, reverse repurchase agreements, as well as cash and bank deposits.

Tether stated that despite choosing collateral based on its conservative and liquid nature, Tether's reserves and operations have generated over $700 million in net profits, which have been added to Tether's reserves, resulting in a total excess reserve amount of $960 million. (Source link)