{"id":73865,"date":"2023-02-09T19:25:38","date_gmt":"2023-02-09T17:25:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73865"},"modified":"2025-09-09T16:45:37","modified_gmt":"2025-09-09T13:45:37","slug":"tether-posts-700m-in-net-profit-for-q4","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tether-posts-700m-in-net-profit-for-q4\/","title":{"rendered":"Tether posts $700m in net profit for Q4"},"content":{"rendered":"<p>The issuer of the USDT stablecoin, Tether Limited, posted net profit of $700m for October\u2013December, according to the updated attestation report.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Tether?src=hash&#038;ref_src=twsrc%5Etfw\">#Tether<\/a> Continues To Demonstrate Strength Of Reserves, Reveals $700m Profits For Q4\/2022 In Latest Attestation Report<a href=\"https:\/\/t.co\/NlPLC3Qil9\">https:\/\/t.co\/NlPLC3Qil9<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1623639533370613761?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The veracity of the figures in the document was confirmed by the accounting firm BDO.<\/p>\n<p>The profit added to the company&#8217;s equity.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abTether&#8217;s reserves remain highly liquid. A large portion of its investments is held in cash, cash equivalents and other short-term deposits\u00bb<\/em>, the report states.<\/p>\n<\/blockquote>\n<p>As of December 31, 2022, the company&#8217;s assets stood at $67.04 billion, liabilities at $66.08 billion, and equity at $960 million.<\/p>\n<p>The volume of secured loans declined by $283 million, to $5.85 billion. In December, WSJ<a href=\"https:\/\/forklog.com\/en\/news\/tether-calls-wsj-article-on-usdt-lending-hypocrisy\"> journalists pointed to risks for the USDT issuer due to the existence of such investments linked to lending collateralized by crypto assets. Tether Limited called the journalists&#8217; conclusions &#8220;the media&#8217;s hypocrisy, asleep at the wheel of information&#8221;.<\/p>\n<p>Corporate bonds, funds and precious metals accounted for $3.44 billion, other investments \u2014 $2.68 billion.<\/p>\n<p>The share of Treasury securities in assets during the latest reporting period rose from 58.1% to 58.5%. As of June end it<a href=\"https:\/\/forklog.com\/en\/news\/us-treasury-securities-account-for-58-1-of-tether-reserves\"> stood at 43.5%.<\/a><\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image-107.webp\" alt=\"image-107\" class=\"wp-image-197647\"\/><figcaption>Asset structure of Tether. Data:<a href=\"https:\/\/assets.ctfassets.net\/vyse88cgwfbl\/53L8YRM4ZHCEeqlpKbc3Q8\/846eb5a7f53a47d53676ee3fbb1b3062\/Std_ISAE_3000R_Opinion_BDO_31-12-2022_Tether_CRR.pdf\"> Tether<\/a>.<\/figcaption><\/figure>\n<p>The CTO of the issuer, Paolo Ardoino, noted the company\u2019s resilience in the face of the crypto-winter, as well as direct and indirect <span data-descr=\"Fear, uncertainty and doubt \u2014 fear, uncertainty and doubt\" class=\"old_tooltip\">FUD<\/span> attacks.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abIn 2022, Tether, as promised,<\/em><a href=\"https:\/\/forklog.com\/en\/news\/tether-limited-wipes-out-commercial-paper-exposure-in-usdt-reserves\"><em>zeroed out its commercial papers<\/em><\/a><em> on the balance sheet. The firm also undertook an obligation to reduce secured loans during 2023. The process has already started\u00bb,<\/em> \u2014 \u0441\u043e\u043e\u0431\u0449\u0438\u043b \u043e\u043d.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">3\/ In 2022, Tether, as promised, reduced to 0 commercial papers, and just before the end of the year promised a reduction of secured loans throughout 2023. The process started already.<\/p>\n<p>\u2014 Paolo Ardoino ? (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1623644469424791553?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In September 2022, a court in New York <a href=\"https:\/\/forklog.com\/en\/news\/court-orders-tether-to-disclose-collateral-backing-the-usdt-stablecoin\"> ordered<\/a> Tether Limited to provide financial documents for assessing the reserves of the stablecoin in a case of possible market manipulation.<\/p>\n<p>A month later it emerged that the US Department of Justice<a href=\"https:\/\/forklog.com\/en\/news\/bloomberg-u-s-doj-resumes-probe-into-tether\"> had resumed a review of the company<\/a>, according to reports.<\/p>\n<p>As reported in February 2023, The Wall Street Journal<a href=\"https:\/\/forklog.com\/en\/news\/the-wall-street-journal-reveals-tether-owners\"> disclosed the owners of Tether<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The issuer of the USDT stablecoin, Tether Limited, posted net profit of $700m for October\u2013December, according to the updated attestation report.<\/p>\n","protected":false},"author":1,"featured_media":73866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[967,807,1245],"class_list":["post-73865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-audit","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73865"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73865\/revisions"}],"predecessor-version":[{"id":73867,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73865\/revisions\/73867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73866"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}