Tether’s Q2 Results: $3.3 Billion in Excess Reserves, Surpassing $1 Billion in Operational Profits
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Ad Disclosure
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Stablecoin issuer Tether’s consolidated reserves report for the second quarter of 2023 shows that the company has around $3.3 billion in excess reserves, while profits increased 30% from last quarter to over $1 billion.
The report, which was attested by accounting firm BDO, noted that the excess reserves now amount to almost 4% of the total assets held as backing for all Tether tokens in circulation.
Tether says its reserves are “extremely liquid,” with 85% of it held in cash and cash equivalents. It also holds around $72.5 billion in US Treasury bills.
In total, Tether holds assets worth $86.5 billion, and liabilities of $83.2 billion.
Today Tether shares its attestation for Q2/2023 (2023-06-30).
— Paolo Ardoino 🤖🍐 (@paoloardoino) July 31, 2023
Another quarter, another massive result.
I'm immensely proud of our team.
Hightlights
1. Q2/2023 Tether's operational profits > $1B.
How?
The main component of the profits are the interests on the T-Bills that Tether… https://t.co/ycHSDtesld
In the report, Tether described its excess reserves as “the company’s own profits — not distributed to shareholders — and which the company has decided to keep on top of the 100% reserves that Tether maintains to back all the outstanding tokens.”
According to Tether, this move “demonstrates the importance of taking the right risk management decisions and care for its community.”
In addition to announcing the significant addition to its reserves, Tether also revealed a share buyback worth $115 million which it called “a healthy sign of consolidation” made to strengthen its shareholders.
All-time high for circulating USDT
“I am immensely proud of our most recent reserves attestation, reaffirming our unwavering commitment to transparency,” said Tether’s chief technology officer Paolo Ardoino.
“With a firm focus on transparency, we aim to shape a future where every participant in the global financial ecosystem can confidently navigate a realm built on trust and innovation. That’s why in this quarter, Tether’s USDT token in circulation surpassed its previous all-time high,” Ardoino added.
In addition to being the issuer of the US dollar-pegged stablecoin USDT, Tether also issues stablecoins pegged to euro (EURT), Chinese yuan (CNHT), Mexican peso (MXNT), and gold (XAUT).

- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- Trump Media and Technology Group Files for ETFs, SMAs
- Trader Explains Why XRP Could Skyrocket to $100 After Tristan Tate X Post
- Bitwise’s Matt Hougan Makes Big Prediction on Bitcoin’s Next Bear Market






