Tether: Q2 operating profits exceed $1 billion, with excess reserves increasing by approximately $850 million.

BlockBeats news, on July 31st, stablecoin issuer Tether released its 2023 Q2 attestation report completed by independent accounting firm BDO. Tether revealed that its excess reserve increased by approximately $850 million, and as of the end of Q2, the total excess reserve reached approximately $3.3 billion. In addition, Tether's operating profit exceeded $1 billion from April to June 2023, an increase of 30% compared to the previous quarter. Tether's overall exposure to US T-Bills is approximately $72.5 billion. As of June 30, 2023, Tether's total consolidated assets were at least $86,499,251,218, and the total liabilities were $83,200,775,340, of which $83,178,020,411 were related to issued digital tokens. The comprehensive assets exceed the comprehensive liabilities. As of the end of June 2023, Tether held approximately $1.676 billion worth of Bitcoin in its reserves.