Posted 10/20/2023, 2:03:45 PM
Tether to Launch Real-Time Reserve Reporting in 2024, Sees Profit and Lending Growth Despite Crypto Slump
- Tether plans to publish reserve data in real-time starting in 2024, per its incoming CEO
- Tether currently updates reserves data daily and issues monthly reports
- Tether's assets rose to $86.5B in Q2 2022 despite crypto slump
- The firm made over $1B in profit in Q2, up 30% from previous quarter
- Tether increased stablecoin lending in 2023 despite cutting loans to zero in late 2022
- Tether grew excess reserves to $3.3B in Q2 and holds billions in US Treasuries
