Buy Bitcoin with 15% net profit every quarter! How much is the Tether holding? Official data exposed.

In order to diversify its reserve assets, Tether, the issuer of the world's largest Stable Coin $USDT, allocates 15% of its net profits to purchase BTC every quarter. Recently, at the "Plan ₿" forum held in Lugano, Switzerland, Paolo Ardoino, the CEO of the company, announced detailed information about Tether's financial reserves, including the holdings of BTC and gold.

According to the photos shared by Uquid CEO Tran Hung, Tether currently holds 82,454 BTC (worth about $5.55 billion) and 48.3 tons of gold (worth about $3.87 billion).

Image source: Photo shared by X Tran Hung at the event, Tether announces detailed information on financial reserves

However, this information has sparked widespread discussion in the cryptocurrency community. Many netizens have noticed that the total value of Tether's BTC and gold reserves is only $9.45 billion, which seems to be inconsistent with the market capitalization of USDT.

In response to external doubts, Paolo Ardoino clarified that Tether's reserves also include US Treasury bonds. He further explained:

To clarify the confusion about this topic, in addition to 82,000 BTC and 48 tons of gold, Tether also holds about $100 billion in US government bonds.

According to the second quarter review report (Attestation Report) signed by the third-party audit firm BDO Italy, as of June 30th this year, Tether's total reserves were $118.4 billion, liabilities were $113.1 billion, excess reserves were $5.3 billion; and net equity (Net Equity, the residual asset value after deducting all liabilities) was $11.9 billion.

Tether has been criticized for 'lack of transparency in reserve assets' for many years. The Wall Street Journal recently pointed out that the US authorities are conducting a comprehensive investigation into Tether, suspecting serious allegations of sanctions violations and Money Laundering.

According to reports, the investigation primarily focuses on the company's transparency regarding its US dollar reserves and its potential impact on the stability of the cryptocurrency market. However, Paolo Andoino immediately denied the news, stating that the Wall Street Journal was simply hyping old rumors.

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Invest at your own risk.

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