Tether Generated Over $700 Million in Profits in Q1

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Today’s Cryptocurrency Headline

Tether’s Chief Technology Officer Paolo Ardoino said on Twitter today that the company’s profit for the first quarter of this year has exceeded $700 million. Previously on March 24th, Paolo Ardoino had predicted that the excess reserves for the quarter would increase by $700 million, bringing Tether’s total excess reserves to $1.66 billion. This would mark the first time Tether’s excess reserves have surpassed the $1 billion threshold.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Over the last 24 hours, Bitcoin has experienced a 4.46% increase, reaching an intraday high of $29,747.01. Bitcoin (BTC) was back above $29,000 to start the week, as market sentiment shifted towards the bulls following the Easter break. The gradually upsloping 20-day EMA and the RSI in the positive territory indicate advantage to the buyers. If the BTC/USDT pair surpasses $30,000, it could rise to $32,000.

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