“Tether once again demonstrates the importance of making good risk management decisions and taking care of its community,” the company said.
Tether’s operating profit from April through June 2023 exceeded $1 billion. The increase was 30% over the previous quarter.
“Our long-term goal has always been to drive innovation forward. Through continuous improvement, we aim to set new standards in the industry and inspire others to follow suit,” boasts CTO Paolo Ardoino
It was recently revealed that four founders of the USDT steibloccoin issuing company have become dollar billionaires. If they sold Tether right now, they could realize $9 billion in proceeds.
Tether’s management has decided to invest up to 15% of net profits in bitcoin each month – to diversify reserves. The company has already invested $1.5 billion in BTC