The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Tether Excess Reserves Shatter $3,000,000,000 As Stablecoin Issuer Uses Profits To Back USDT

by Mark Emem
August 2, 2023
in Altcoins

The issuer of the Tether (USDT) stablecoin says its excess reserves have increased by hundreds of millions of dollars in the second quarter of 2023.

Tether Holdings says that its total excess reserves increased by approximately 35% to $3.3 billion in the second quarter.

“In a continuation of Tether’s public commitment towards openness, it also reveals an increase in its excess reserves of about $850 million, bringing its total excess reserves to approximately $3.3 billion at the end of Q2, reinforcing the stability of Tether.”

According to Tether Holdings, excess reserves are derived from the “company’s own profits – not distributed to shareholders and which the company has decided to keep on top of the 100% reserves that Tether maintains to back all the outstanding tokens.”

The issuer of the world’s largest stablecoin by market cap says that it generated operating profits of over $1 billion during the second quarter, an increase of 30% from the first quarter.

Tether Holdings’ rise in excess reserves coincides with the USDT stablecoin’s market cap hitting a new all-time high.

The USDT market cap is approaching the $84 billion mark, an increase of 27% year-to-date. At under $26.5 billion, the market cap of the second-largest stablecoin by market cap USD Coin (USDC), is currently less than a third of USDT’s. The third-largest stablecoin by market cap, Dai (DAI), boasts a market cap of around $4.15 billion.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • Binance Alpha Is Changing the Web 3.0 Game
    May 16, 2025
  • NEXPACE Launches MapleStory N and NXPC Token, Charting a New Chapter for MapleStory Universe
    May 15, 2025
  • GSR Invests in Maverix Securities To Support the Launch of Regulated Digital Asset Structured Products
    May 15, 2025
  • Sportsbet.io Launches One Million USDT Giveaway To Mark Champions League Finale
    May 15, 2025
  • Whale.io Accelerating Towards TGE – Unveils ‘Wager and Earn’ Campaign and Launches WHALE Token Conversion
    May 14, 2025
  • Edgen Launches ‘AI Super App,’ Democratizing Institutional-Grade Crypto Market Intelligence
    May 14, 2025
  • BC.GAME Unveils New Logo, Strengthens Crypto Integration in iGaming Ecosystem
    May 14, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$103,073.62
$103,073.62
0.82%
Ethereum
$2,405.27
$2,405.27
4.18%
BNB
$640.03
$640.03
0.86%
Solana
$161.78
$161.78
5.58%
XRP
$2.31
$2.31
3.28%

Spotlight

  • Cathie Wood Doubles Down on 2030 Bitcoin Price Target, Says BTC Still Has ‘Miles To Go’
    May 12, 2025
  • Bitcoin Now a Deflationary Asset Amid Aggressive BTC Accumulation by Strategy, According to CryptoQuant CEO
    May 12, 2025
  • 161,359 Americans Warned Data Breach May Have Exposed Names, Social Security Numbers, Financial Records and More
    May 12, 2025
  • Healthcare Stock Explodes 719% After Sudden Merger With Bitcoin Firm Owned by President Trump’s Crypto Advisor
    May 12, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl