BREAKING: Tether reports $850 million net profit for second quarter in latest attestation report
The Q2 profit brings Tether's excess reserves to around $3.3 billion."As a reminder, excess reserves are the company's own profits — not distributed to shareholders and which the company has decided to keep on top of the 100% reserves that Tether maintains to back all the outstanding tokens," Tether said Monday.
Tether's consolidated total assets amounted to at least around $86.5 billion as of June 30, while its consolidated total liabilities amounted to $83 billion, per the latest report, reflecting excess reserves of over $3 billion — a new all-time high. The excess reserves exceedTether's USDT is the largest stablecoin in the market, with a supply of over 84 billion tokens, according to The Block's Data Dashboard.© 2023 The Block Crypto, Inc. All Rights Reserved.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Young Yacht Owners Are Breaking the Rules of Boat DesignYoung, financially flush, and daring to dream big—the yachting world's next-gen pioneers are driving a surge of experimentation in boat design. 🛥
Read more »
Record breaking heat expectedA heat advisory has been issued for the western half of the area until 7 p.m. Saturday, with heat indices expected near 105 degrees. Rain chances will stay in the 30 percent range both Saturday and Sunday. Any showers and storms will be sea breeze-driven, forming in the afternoon and dissipating around sunset.
Read more »
The unstoppable pop of Taylor Swift✨taylorswift13 is an unstoppable force. 'The queen of pop,' 'the best storyteller of our time,' a 'calculating artist' and 'a polarizing celebrity': Love her or hate her, you know her. ReutersGraphics takes a look at what makes the star so popular
Read more »
Breaking down the 5 longest touchdown runs allowed by the Seahawks in 2022Breaking down the 5 longest touchdown runs against the Seahawks in 2022
Read more »
Breaking down gasoline blends: Winter vs. summerDepending on where you live and the time of the year, your car could have summer- or winter-blend gasoline in its tank. There are government regulations on the type of gas we use, and a lot of that is because of the temperature outside.
Read more »