Tether's Q4 Attestation: Setting New Standards in Financial Performance

Tether marked a historic net profit of $2.85 billion in Q4, with approximately $1 billion stemming from net operational profits, primarily generated by US Treasuries interests.

Tether Holdings Limited (BVI) proudly presents the attestation report for the fourth quarter of 2023, conducted by the esteemed BDO, an independent auditing firm. This comprehensive review reaffirms the accuracy of Tether's Consolidated Reserves Report (CRR) and sheds light on the financial landscape as of December 31, 2023.

Unprecedented Financial Achievements

Record-breaking Profits:
Tether marked a historic net profit of $2.85 billion in Q4, with approximately $1 billion stemming from net operational profits, primarily generated by US Treasuries interests. An additional $1.85 billion was attributed to the appreciation of gold and Bitcoin holdings. The total profit for 2023 soared to an impressive $6.2 billion.

Excess Equity Milestone:
Notably, Tether's excess equity reached a remarkable $5.4 billion, surpassing remaining secured loans at $4.8 billion. This surplus equity, defined as undistributed profits on top of the 100% reserves backing all issued tokens, showcases Tether's commitment to resilience and stability.

Strategic VC Investments:
Venturing beyond its stablecoin offerings, Tether allocated $1.45 billion to a diversified portfolio of strategic investments. These ventures span AI infrastructure, Bitcoin mining, P2P telecommunications, and other sectors. Importantly, these investments remain segregated from consolidated reserves, safeguarding the stability of token reserves.

Transparent Financial Position

Resilient T-Bill Exposure:
Tether maintained its robust position in US Treasury Bills, with a total exposure of $80.3 billion, encompassing both direct and indirect holdings. The commitment to transparency extends to Tether's decision to consolidate two entrepreneurship promotion programs initiated in 2015, streamlining support for startups in special zones.

Liquidity Priority:
With an unwavering commitment to liquidity, Tether ensured that cash and cash equivalents now cover a remarkable 90% of all issued tokens. This percentage represents the highest in recent years, underlining Tether's dedication to maintaining stability within the stablecoin ecosystem.

Exceeding Community Expectations:
Acknowledging past concerns, Tether diligently accumulated excess reserves, surpassing the outstanding secured loans. This achievement reflects Tether's responsiveness to community feedback, further enhancing confidence in the stability of the portfolio.

Looking Ahead to 2024

Tether anticipates an exciting year ahead, with a multitude of new projects and products poised to emerge. While Tether has been synonymous with USDt, the company is evolving into a multifaceted entity, actively investing and building infrastructure across strategic sectors. From AI to P2P telecommunications, Bitcoin mining to renewable energy production, Tether is positioned for a transformative and prosperous 2024.

Paolo Ardoino, CEO of Tether, expressed his enthusiasm, stating, "Tether’s Q4 attestation underscores our commitment to transparency, stability, and responsible financial management. Achieving the highest percentage of reserves in Cash and Cash Equivalents reflects our dedication to liquidity and stability. The substantial net profits generated not only in the last quarter of the year but throughout the year, amounting to $6.2 billion, showcases our financial strength. Furthermore, our investments in sustainable energy, Bitcoin mining, data, AI infrastructure, and P2P telecommunications technology illustrate our commitment to a more sustainable and inclusive financial future."

Stay tuned for more updates as Tether continues to lead the way in reshaping the landscape of finance, stocks, and cryptocurrencies.

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