Tether's growth and profits continue to dwarf Circle
Tether has released the most recent assurance through the end of 2023, which claims continued growth in total reserves, profits, and excess reserves. Tether , in its announcement regarding these financial results, bragged that “the fourth quarter witnessed a record-breaking net profit of $2.85 billion, of which ~$1 billion in net operating profit s (were primarily interests from US Treasuries) with the remaining primarily from the appreciation of Gold and Bitcoin reserves.” This growth in profits has funded some of Tether’s new investments, with Tether claiming that it used $640 million of the profits from this quarter to fund its venture investing, something that is now managed “within a new segregated VC umbrella.” Tether has recently been actively invested in energy, mining, staking, and other industries. These investments are now purportedly under this new “VC umbrella,” but Tether has been an active venture capital investor for ...