TechFlow news, Tether has released its Q4 2023 assurance report completed by independent accounting firm BDO. The company recorded a net profit of $2.85 billion in the fourth quarter, including approximately $1 billion in net operating profit—primarily from interest on U.S. Treasury securities—with the remainder mainly driven by appreciation in its gold and Bitcoin reserves.
Excess reserves reached a record high, increasing by $2.2 billion to a total of $5.4 billion, while an additional $640 million was allocated to various strategic investments such as mining, AI infrastructure, and P2P telecommunications.
Tether Group's net profit for 2023 amounted to $6.2 billion, with around $4 billion derived from net operating income generated by U.S. Treasuries, reverse repos, and money market funds, and the remainder from performance in other asset categories.
The Tether Group holds U.S. Treasury securities directly and indirectly, with investments totaling $80.3 billion. As of December 31, 2023, the group’s consolidated total assets were at least $97 billion, exceeding its consolidated liabilities.
