Tether CTO: Tether's Q1 profit is approximately $700 million, and the excess reserves will reach $1.66 billion

ChainCatcher news, according to CNBC, Tether's Chief Technology Officer Paolo Ardoino stated that Tether will achieve a profit of $700 million in the first quarter of 2023, bringing its excess reserves (the portion of reserve funds exceeding the amount of USDT issued) to $1.66 billion. Paolo Ardoino noted that this is the first time USDT's excess reserves have surpassed $1 billion. (source link)