According to the Q1 attestation signed by financial services firm BDO Italia, Tether held about $2.44 billion in excess reserves of the $79.4 billion Tether-issued tokens in circulation as of March 31. That surplus was at an all-time high, Paolo Ardoino, chief technology officer of Tether, said in the announcement.

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• Source: https://www.coindesk.com/business/2023/05/10/tether-reports-148b-profit-in-q1-reveals-bitcoin-gold-reserves/?utm_medium=referral&utm_source=rss&utm_campaign=headlines