Tether, the company behind the USDT stablecoin, revealed in its Q2 report that it holds $3.3 billion in excess reserve assets to back its stablecoins. The report, audited by BDO Italy, showed exposure of about $72.5 billion to U.S. Treasuries. Additionally, Tether reported operational profits surpassing $1 billion for Q2, following $1.45 billion in Q1.
Tether Reports $3.3B in Excess Reserves in Q2, Up $850M for the Quarter
