Tether Cuan Banyak, Raih Rp44,9 Triliun Pada Kuartal Keempat 2023

Tether, the world's largest stablecoin developer. (Photo; Doc. Bitcoinist)

JAKARTA - Tether Holdings Limited, the company that published the world's largest stablecoin, reported impressive financial performance in the fourth quarter of 2023. The company recorded a capital excess of $5.4 billion (IDR 85.1 trillion) and cash coverage of 90% of all outstanding tokens. This shows that Tether has sufficient reserves to guarantee the value of each token held in fiat or gold currency.

The quarterly report audited by the world's leading audit firm BDO, revealed that Tether managed to increase its excess reserves by around $2.2 billion (Rp 34.7 trillion) over the last three months of 2023. This increase was driven by net gains which reached a record $2.85 billion (Rp 44.9 trillion) at the end of December 2023. Most of these profits came from interest obtained from US bonds of $1 billion (Rp 15.8 trillion) and profits from Bitcoin (BTC) and gold investments of $1.8 billion (Rp 28.4 trillion).

Paolo Ardoino, CEO of Tether, stated that this quarterly report proves his company's commitment to transparency, stability, and responsible financial management. He also stressed that Tether has the highest percentage of cash reserves among all stablecoins, reflecting its dedication to liquidity and stability.

By the end of 2023, Tether had a total consolidated asset of around $97 billion (IDR 1,530.8 trillion) and a total blockchain token of around 91.6 billion. The majority of Tether's assets in the form of US debt securities were around $80.3 billion (IDR 1,267.1 trillion), followed by Bitcoin of around $2.8 billion (IDR 44.2 trillion), gold of around $3.5 billion (IDR 55.2 trillion), and other assets of around $5.6 billion (IDR 88.4 trillion). In addition, Tether also invests in various fields that have the potential to support a sustainable and inclusive future, such as renewable energy, Bitcoin mining, data, artificial intelligence, and peer-to-peer communication.

For the whole of 2023, Tether recorded a net profit of around $6.2 billion (Rp 97.9 trillion) and a total loan of around $4.8 billion (Rp 75.7 trillion), covered by an excess capital of $5.4 billion (Rp 85.1 trillion). It is important to note that Tether only has a venture capital of around $1.5 billion (Rp 23.6 trillion) to date.