Tether (USDT) makes almost $3 billion in quarterly profits
4 weeks ago 1 min read

Tether (USDT) makes almost $3 billion in quarterly profits

Tether Holdings Limited has reported a “record-breaking” quarterly net profit of $2.85 billion in the fourth quarter of 2023. The details are outlined in the “Consolidated Reserves Report,” which BDO audited. According to the report, interest on US Treasury securities accounted for around $1 billion of net operating profits, with the remainder attributed to the appreciation of Tether’s gold and Bitcoin reserves. According to the report, Tether’s consolidated assets total more than $97 billion, which includes US Treasury securities, reverse repo, money market funds, Bitcoin, and gold. Cash and cash equivalents account for 90% of the company’s assets and serve

1 month ago 1 min read

UN report reveals Tether USDT’s role in money laundering and scams

According to a recent United Nations report, Tether (USDT), a popular stablecoin, has been linked to money laundering and scams in Southeast Asia. The report sheds light on the various ways Tether is abused, with a special emphasis on its link to illegal online gambling sites. According to the UN findings, Tether is frequently used in illegal activities, particularly illegal online gambling. The stablecoin is a popular choice for those orchestrating scams and engaging in money laundering schemes throughout Southeast Asia. The report also reveals the use of Tether in hidden frauds, such as “pig butchering,” which is frequently associated

Tether's 2023 Q2 Report Reveals Impressive $1 Billion Operational Profit
7 months ago 1 min read

Tether (USDT) Records $1 Billion Profit in Q2

As of June 30, 2023, Tether ensured that the equivalent of USDTs in circulation was fully backed by assets in its treasury. According to the audited report, Tether recorded a surplus of $850 million in company assets during the second quarter. In total, the company assets yielded a surplus of $3.3 billion. Notably, Tether has decided to retain the profit and maintain the equivalent of USDT above 100%, further reinforcing the coin’s stability as a leading stablecoin. In the three-month period between April and June 2023, Tether achieved an impressive operational profit of $1 billion. This milestone speaks to the

BDO Italia, the accounting firm responsible for auditing Tether's reserves, has released its latest attestation report revealing that the stablecoin issuer holds approximately $1.5 billion worth of Bitcoin (BTC) reserves.
10 months ago 1 min read

Tether’s Bitcoin holdings soar to $1.5B, says BDO Italia

BDO Italia, an accounting firm, has released its latest attestation report for Tether, the stablecoin issuer, revealing that approximately $1.5 billion of Tether’s reserves, or 2% of the total, are held in Bitcoin at the end of the first quarter. This marks the first time Bitcoin has been listed as a line item in the report. The report also showed that Tether holds around $3.4 billion worth of precious metals, which were given their own line item, making up approximately 4% of the total reserves. In a statement, Tether emphasized its commitment to transparency, saying that it included information about

Tether (USDT) has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week
11 months ago 1 min read

Tether Takes Action Against Validator Address That Stole $25M from MEV Bots

Tether, the issuer behind the popular stablecoin Tether USDT, has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week. The incident involved a rogue validator address that exploited a bug in the MEV-boost relay to outsmart the bots executing a sandwich trade. As a result, losses of nearly $25 million in various digital assets were incurred, making it the largest MEV exploit to date. The USDT address held about $3 million in USDT at the time of blacklisting and a total of $21 million in various other ERC-20 tokens. The blacklisting drew pushback from

Tether and its sister exchange Bitfinex had hidden
12 months ago 2 mins read

Tether Fights Back Against WSJ’s Accusations of Forged Bank Documents

Tether, the company behind the stablecoin USDT, has hit back against a recent report from The Wall Street Journal (WSJ) alleging that it had ties to entities that falsified documents to maintain access to banking services. In the March 3 report, the WSJ claimed that leaked documents and emails showed that Tether and its sister exchange Bitfinex had hidden behind third parties and fabricated transactions to open bank accounts. Tether refuted the allegations in a statement, calling them “wholly inaccurate and misleading” and stating that the company adheres to Anti-Money Laundering, Know Your Customer, and Counter-Terrorist Financing regulations. The firm

Tether partnered with INHOPE
1 year ago 1 min read

Tether Takes Action Against Child Abuse Content Platforms

Tether and INHOPE have joined forces to increase the visibility and control of cryptocurrency payments used to finance child abuse content marketplaces. Through this collaboration, the two organizations are looking to develop a standard practice for the cryptocurrency industry to identify and report illicit marketplaces. Furthermore, Tether is working with law enforcement, financial intelligence units, lawmakers, and standard-setting bodies in order to gain a better understanding of how to identify and report transfers related to online CSAM marketplaces. INHOPE, which has been operating since 1999, has a network of communication hotlines that includes all European Union member states, Russia, South

1 year ago 1 min read

Tether USDT is available in over 24,000 ATMs in Brazil

Tether, a stablecoin issuer, has announced that SmartPay would increase the Brazilian population’s access to the popular USDT stablecoin by making it available at over 24,000 ATMs across the South American country. “The obstacles and constraints imposed by inflation and a less-than-inclusive banking system have prevented many Brazilians from participating in the country’s developing economy,” said Paolo Ardoino, CTO of Tether in a statement. The executive said, “Adding tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments industry but to the entire