Tether will regularly use its realized net operating profits to purchase Bitcoin starting this month to strengthen its stablecoin reserves
ChainCatcher news, USDT issuer Tether announced that starting this month, it will regularly allocate up to 15% of its realized net operating profits to purchase Bitcoin. Tether expects that the current and future Bitcoin holdings in its reserves will not exceed the shareholder capital buffer and will further strengthen and diversify its reserves.
As of the end of March 2023, Tether has approximately $1.5 billion in Bitcoin in its reserves. (source link)
ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
