Tether has released Q1 reserve attestation, showing a direct holding of over $53 billion in US Treasury bonds.

According to BlockBeats news on May 16th, Tether released its reserve proof for the first quarter of this year. The issuance of USDT increased from $66 billion to over $82 billion, with the percentage of secured loans in Tether's reserves decreasing from 8.7% to 6.5%. Tether's direct holdings of US Treasury bonds reached a historical high of over $53 billion, accounting for more than 64% of total reserves. The combination of Treasury bonds and other reserves in cash and cash equivalents, such as overnight repurchase agreements, term repurchase agreements, money market funds, cash, and bank deposits, accounted for nearly 85%, reaching a historical high. In addition, Tether reduced its bank deposits from $5.3 billion to $481 million in the first quarter to reduce counterparty risks. As previously reported by BlockBeats, on May 10th, Tether's latest report showed a net profit of $1.48 billion in the first quarter, more than twice the previous quarter's report. As of May 9th, Tether's total assets were at least $81.8 billion, while its total liabilities were $79.4 billion, and its current reserve surplus also reached a historical high of $2.44 billion.