Last week, stablecoin issuer Tether announced that its first-quarter profits reached $4.52 billion, reaching a historical high. However, Tether did not disclose the exact revenue structure, only mentioning that nearly $1 billion came from the interest on reserves in US short-term bonds and commercial paper. The remaining $3.52 billion in revenue came mostly from Tether’s related services and profits from investing in Bitcoin and gold. The main purpose of this report is to inform the public that Tether’s operations are stable and without future risks.
