Tether was able to earn almost $1.5 billion in the first quarter.

Tether, which issues a stable USDT coin, managed to earn about $1.48 billion in the first three months of this year. This amount is twice as much as last year.

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The achieved profit turned out to be twice as high as expected by the company's specialists. The last quarter of last year showed net income of Tether in the amount of $ 700 million. The reliability of these data was confirmed by the BDO auditor.

Thanks to the profit received, the company was able to replenish its own capital. At the end of March, assets amounted to more than $ 81 billion. The liabilities amounted to over $79 billion. From this, the equity came out in the amount of more than $ 4 billion. At the end of last year, it reached only $960 million.

The document states that the first quarter is excellent for the company. The reason was called almost 1.5 billion. net income, as well as the fact that the number of coins increased by 20% and reserves strengthened. This indicates that customers trust, which makes specialists optimistic.

The company also disclosed information on its reserves. So they have BTC in the amount of $ 1.5 billion, physical gold bullion for almost $ 3.4 billion. Of the total reserves, this is 1.8% and 4.1%, respectively. They also have about 76% of the reserve made up of US Treasury bills.

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