{"id":346366,"date":"2023-07-31T22:30:10","date_gmt":"2023-07-31T21:30:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=346366"},"modified":"2023-07-31T20:39:47","modified_gmt":"2023-07-31T19:39:47","slug":"tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/","title":{"rendered":"Tether reports Bitcoin reserves up by $170M alongside drawdown in precious metals allocation"},"content":{"rendered":"<p>Stablecoin issuer Tether's (<a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">USDT<\/a>) second-quarter <span class=\"s4\"><a href=\"https:\/\/tether.to\/en\/tether-excess-reserves-increase-by-850m-to-reach-3-3b-as-leading-stablecoin-reveals-72-5b-overall-exposure-in-us-t-bills-and-unveils-energy-related-investments\/\">attestation<\/a><\/span> revealed a significant increase in its Bitcoin (<span class=\"s4\"><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a><\/span>) reserves by more than $170 million, raising the total to $1.67 billion from the $1.5 billion posted during the first quarter<\/p>\n<p>The increase aligns with the company's goal of strengthening and diversifying its reserves with BTC purchases. In May, Tether <a href=\"https:\/\/cryptoslate.com\/tether-usdt-to-strengthen-reserves-with-bitcoin-purchase\/\">revealed<\/a> its intent to use 15% of its net realized operating profits to purchase the flagship digital asset.<\/p>\n<p>In a contrasting development, the company's reserves in precious metals, specifically gold, witnessed a decline, falling around $120 million to $3.27 billion from the first quarter's $3.39 billion,<\/p>\n<h2>Tether excess reserves jump to $3.3 billion<\/h2>\n<p>Per the quarterly attestation, Tether reported that its excess reserves increased by $850 million to $3.3 billion\u2014up from the $2.44 billion recorded during the first quarter.<\/p>\n<p>The firm stated that its excess reserves are profits it chose not to distribute to shareholders, which are kept alongside its 100% reserves for issued USDT tokens.<\/p>\n<p>Tether added that it made over $1 billion in operational profits between April and June 2023, representing a 30% increase quarter-on-quarter.<\/p>\n<p>The profit underscores USDT's dominance of the stablecoin market. According to <em>CryptoSlate's<\/em> data, the asset's circulating supply is approaching a new all-time high of $<span class=\"holepunch holepunch-coin_market_cap_usd\">84 billion.<\/span><\/p>\n<h2 class=\"s6\">Tether reserves highly liquid<\/h2>\n<p class=\"s6\"><span style=\"color: #383838; font-size: 16px;\">Tether also claimed that its reserves are very liquid, as 85% of all its investments are in cash and cash equivalents.<\/span><\/p>\n<p>It added that its direct and indirect exposure to U.S. Treasury Bills and Treasuries account for $72.5 billion of its reserves.<\/p>\n<p>Besides keeping $850 million of its quarterly profits in excess reserves, Tether spent the rest on a $115 million share buyback and invested in energy-related projects. However, the company said it did not include the energy investments in its consolidated reserves report.<\/p>\n<p>Overall, the stablecoin issuer had total liabilities of $83.17 billion, all representing its issued tokens, while it had total assets worth at least $86.49 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin issuer Tether&#8217;s (USDT) second-quarter attestation revealed a significant increase in its Bitcoin (BTC) reserves by more than $170 million, raising the total to $1.67 billion from the $1.5 billion posted during the first quarter The increase aligns with the company&#8217;s goal of strengthening and diversifying its reserves with BTC purchases. In May, Tether revealed [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":346389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,32631],"tags":[76896,72860],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether reports Bitcoin reserves up by $170M alongside drawdown in precious metals allocation<\/title>\n<meta name=\"description\" content=\"Tether reported that its excess reserves increased by $850 million to $3.3 billion during the second quarter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether reports Bitcoin reserves up by $170M alongside drawdown in precious metals allocation\" \/>\n<meta property=\"og:description\" content=\"Tether reported that its excess reserves increased by $850 million to $3.3 billion during the second quarter.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-31T21:30:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-31T19:39:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/07\/tether-usdt.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/tether-reports-bitcoin-reserves-up-by-170m-alongside-drawdown-in-precious-metals-allocation\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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