Tether Holdings Limited, the issuer of the world’s largest stablecoin, USDT, has published its Q1 2023 Assurance Report, attested to by BDO Italia, a top five-ranked global independent public accounting firm. The report re-affirms the accuracy of Tether’s Consolidated Reserves Report (CRR), which details the assets held by the group as of March 31, 2023. The CRR includes additional categories for the first time, including physical gold, overnight repo, corporate bonds, and Bitcoin ownership, which aim to increase transparency into Tether’s reserves reporting. Furthermore, the report reveals an increase in Tether’s excess reserves, reaching an all-time high of $2.44 billion, up from $1.48 billion in the previous quarter. Related Reading: Should You Worry About Bitcoin Withdrawals On Exchanges? New Data Sheds Light Tether Q1 Net Income Surpasses Blackrock, Leading Hedge Fund Manager The recently released Q1 2023 Assurance Report highlights the stablecoin’s impressive performance in the year’s first quarter. The report shows that Tether’s net profit for the quarter was a staggering $1.48 billion, contributing significantly to strengthening its reserves. Moreover, the report reveals that the token in c ..
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