Tether, the cryptographic company behind the largest in Stablingin USDT, said Friday generated net earnings of $ 13 billion throughout the group last year in a record year.
About $ 7 billion of the profits derived from the vast bonds and repositinería of the company, and $ 5 billion of the unrealized appreciation of the gold and Bitcoin (BTC) holdings of the company. Other investments contributed $ 1 billion.
According to the latest quarterly certification of the company signed by the BDO Italia accounting firm, the establishment issuer of the Arms Tether International Limited and Tether Limited group revealed $ 143.7 billion assets in reserve against $ 136.6 billion in liabilities, which is adds to $ 7 billion of reservations of excess support. Treasury invoices in the reserve increased to $ 94.5 billion.
The group also increased its Bitcoin holdings the last quarter for the first time since March, with almost 84,000 BTC for a value of approximately $ 7.8 billion at the end of the year, according to certification.
Read more: Tether brings its $ 140b USDT Stablecoin to Bitcoin and Lightning Networks
The Tether USDT is the fourth largest cryptocurrency with its market capitalization of $ 140 billion, and a key infrastructure for the trade of digital assets and increasingly popular in the development of regions for payments, remittances and savings in US dollars . However, several exchanges have eliminated or announced to suspend the USDT for EU users recently due to Mica regulations, which caused a decrease in the supply of the Token.
This year’s firm announced plans to transfer its headquarters to El Salvador, the Bitcoin National State in Central America that has become an emerging center for cryptographic companies under the leadership of President Nayib Bukele.
