Announced today, Tie, the leading stablecoin issuer, has emerged with a strong balance sheet showing ownership of over $2.8 billion in bitcoin. The information comes to light after an audit carried out by B.D.O.a recognized auditing firm, as detailed in the auditor's official report report.
The audited report provides a comprehensive analysis of Tether's financial situation, including more information about its bitcoin holdings. Tether, known for its USDT stablecoin, has consistently played a huge role in the cryptocurrency market, facilitating transactions and maintaining a peg to the US dollar.
“At Tether, we are looking forward to a great 2024, with many new projects and products ready to come to life.” saying Paolo Ardoino, CEO of Tether. “I am very excited about Tether's expansion. While Tether is primarily known for one product (USDT), the company is becoming an investor and infrastructure builder in many strategic sectors, from ai to P2P telecommunications, from bitcoin mining to renewable energy production.
The company also made a profit of $2.85 billion in the latest quarter, of which around $1.85 billion came from gold and bitcoin holdings. Throughout 2023, Tether made a profit of $6.2 billion.
