According to the latest Tether earning report for the fourth quarter of 2023, the firm recorded $2.85 billion in profit. The report, prepared by global auditing firm BDO shows that this net profit is now 10% of JPMorgan’s earnings according to an observation made by Messari founder and CEO, Ryan Selkis.
Tether Earnings Breakdown
Paolo Ardoino, Tether’s CEO who also doubles as Bitfinex’s CTO, posted more details of the Tether earnings report.
The $2.85 billion profit for the quarter brings Tether’s total profit for 2023 to $6.2 billion. Of the Q4 2023 profit, $1 billion was in net operating profit tied mainly to US Treasury Bills’ interests while approximately $1.85 billion was from its gold and Bitcoin holdings.
In addition to the recorded Tether earnings, the firm also set a new all-time-high increase in excess reserves backing its tokens in circulation.
Tether Q4/2023 attestation is out.
My summary:
– profit for the quarter: $2.85B, of which ~$1B in net operational
We współpracy z: https://coingape.com/tether-prints-10-of-jpmorgans-earnings-new-report-shows/
