USDT issuer Tether, in its latest certification report, in the fourth quarter of 2022 It reported that it has increased by $700 million.
The past year has been a challenging and tumultuous year for the crypto industry. But last year has been a year in which many crypto organizations have also made profits. The collapses of crypto projects and the market crash have prepared a busy transition environment for many stablecoins. Stablecoins attracted great interest from investors due to the bear market effect. In this context Tether, in the fourth quarter It announced a revenue of $700 million.
Tether Turns To Plus Despite Declining Market Conditions
USDTissuer Tetherexceeded its liabilities in the last quarter of 2022 and It reported that it has increased by $700 million.
stablecoin issuer Tether published its final certification report. This report dealt with the balance sheet in the last quarter of 2022. Published by the company and the accounting firm BBO approved reporthighlighted that the balance sheet has risen despite the declining market conditions.
Tether’s report announced that an additional $700 million was added to its reserves in the fourth quarter of 2022. The company said in its statements;
Tether’s reserves remain extremely liquid, as most of its investments are held in cash, cash equivalents and other short-term deposits.
A Tether spokespersonthat the balance sheet, which has increased to $700 million plus, is part of shareholder equity; and stated that it stands out as the excess part of the reserves.
