Tether Holdings Limited has published its assurance opinion for Q1 of 2023, which re-affirms the accuracy of Tether's Consolidated Reserves Report (CRR).

The CRR provides additional categories with the aim of increasing transparency into Tether's reserves reporting, including physical gold, Overnight Repo, Corporate Bonds, and Bitcoin ownership.

Tether's excess of reserves reached an all-time high of $2.44B, up $1.48B for the first quarter of 2023.

Tether closed the first quarter of 2023 with $81.8B in consolidated total assets, with the majority of its reserves invested in US Treasury Bills.

Tether's reserves remain extremely liquid, with the majority of its investments being held in cash, cash equivalents, and other short-term deposits. Gold and Bitcoin represent circa 4% and 2% of the total reserves, respectively. All new issuance of tokens have been invested in US Treasury bills or placed in overnight Repo.

Tether's consolidated assets once again exceed its consolidated liabilities.

Tether's CTO, Paolo Ardoino, said that the company is thrilled with the tremendous success Tether has achieved in Q1 2023, with their net profits for the quarter being $1.48B.

Tether continues to evaluate the global economic environment and has taken necessary steps to ensure that its customers' funds are not exposed to high-risk scenarios.