Tether (USDT) announced on the 31st that it recorded a net profit of $2.9 billion (approximately 3.86 trillion won) in the fourth quarter of last year through its latest quarterly report. According to this report conducted by global auditing firm BDO, Tether's operating profit was mostly about $1 billion (approximately 1.33 trillion won) from interest income from holding U.S. Treasury bonds. In addition, it is said that additional profits were generated due to the rise in the prices of Bitcoin (BTC) and gold held by Tether. This important announcement is likely to bring a new trend to the cryptocurrency market.

In addition, Tether announced its plan to purchase Bitcoin in May of last year and announced that it would use up to 15% of its investment profits to purchase Bitcoin. Due to the increase in revenue in the fourth quarter, Tether's excess reserves are said to have increased significantly from $3.2 billion (approximately 4.27 trillion won) to $5.4 billion (approximately 7.2 trillion won). Tether also revealed that the $640 million not included in excess reserves was used for several projects, including mining, artificial intelligence (AI), and infrastructure. These amounts and projects are analyzed as showing Tether's various investment and expansion plans.

BDO said Tether's $4.8 billion (approximately 6.4 trillion won) of unsecured loans were fully covered by excess reserves. “While these loans are often over-collateralized, Tether has built up excess reserves to cover the entire amount,” Tether said. “This is in response to concerns raised by the community in the past.” Therefore, it is interpreted that Tether is maintaining a high level of stability in the virtual currency market and is actively engaging in various investment and lending activities. This trend of Tether is expected to have a positive impact on the virtual currency market and investors. do.