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Tether Q2 Financial Report: Excess Reserves Increase by $850 Million, Reaching $3.3 Billion

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Today’s Cryptocurrency Headline

Tether has released its Q2 financial report, which includes an audit opinion completed by independent accounting firm BDO for the second quarter of 2023. The report provides a detailed breakdown of the assets held by the company as of June 30, 2023. The consolidated total assets amount to at least $86.4 billion. The total liabilities amount to $83.2 billion, with $83.1 billion related to issued digital tokens. The consolidated assets exceed the consolidated liabilities. Tether holds 85% of its investments in the form of cash and cash equivalents, with the value of held treasury bills estimated at approximately $72.5 billion. The report also discloses a stock buyback of $115 million and additional investments in energy-related initiatives funded by the profits of the quarter.

BingX’s Bitcoin Chart

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BTC has been experiencing extremely low trading volume throughout the day, and currently, its resistance and support levels are quite clear. As time accumulates, any one-sided market movement will become more rapid and direct. The prices to pay close attention to are 29,000 and 30,000, as a breakthrough and consolidation at these levels would be suitable for further trading opportunities.


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