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Tether reports $2.85B net profit for Q4 2023

Published date:

February 2, 2026

Tether reports $2.85B net profit for Q4 2023

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As stated by Tether CEO Paolo Ardoino, “Tether’s Q4 attestation underscores our commitment to transparency, stability, and responsible financial management. The substantial net profits generated not only in the last quarter of the year but throughout the year, amounting to $6.2 billion, showcases our financial strength.”

Stablecoin issuer Tether (USDT) revealed a record-breaking net profit of $2.85B in its attestation report for the fourth quarter of 2023.

According to Tether, interests from US treasuries contributed to $1B of the quarterly profit. Meanwhile, the remaining $1.85B can be attributed to the uptrend in the prices of Tether’s Gold reserves and Bitcoin assets.

Tether Q4/2023 attestation is out.

My summary:

- profit for the quarter: $2.85B, of which ~$1B in net operational profit (mainly US t-bill interests), ~$1.85B from gold and #bitcoin holdings.

- total profit for 2023: $6.2B.

- cash & cash equivalents cover now 90% of all… https://t.co/AXjDw33QTc
— Paolo Ardoino (@paoloardoino) January 31, 2024

The issuer of USDT also reported an overall profit of $6.2B for 2023, with US treasuries, money market funds, and other traditional financial instruments accounting for $4B. As of writing, tether’s total exposure to these instruments stands at $80.3B.

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However, it is worth noting that Tether has yet to fulfill an earlier promise of reducing secured loans to zero. Tether currently has $4.8B in secured loans, though the firm noted that its $5.4B excess reserves fully cover the outstanding loans.

Written by

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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