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Tether Holdings Limited Publishes Q1 2023 Assurance Report, Reveals Increase in Excess Reserves and Net Profit Surpassing BlackRock

Tether Holdings Limited, the issuer of the world's largest stablecoin, USDT, has released its Q1 2023 Assurance Report, which has been attested to by BDO Italia, a top five-ranked global independent public accounting firm. The report confirms the accuracy of Tether's Consolidated Reserves Report (CRR), which details the assets held by the group as of March 31, 2023. The report reveals an increase in Tether's excess reserves, reaching an all-time high of $2.44 billion, up from $1.48 billion in the previous quarter. Tether's success in Q1 2023 is evident, with its reserves' surplus reaching an all-time high of $2.44 billion and net profits for the quarter of $1.48 billion.

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