According to ChainCatcher news, in an official announcement, Gate.io released its reserve report for October 2024, with a total reserve amount of $6.499 billion and a total reserve ratio of 120.22%. The excess reserves reached $1.093 billion, an increase of 26.6% compared to May. In terms of mainstream cryptocurrency reserves, the BTC reserve amount is 20,070 coins, a 9% increase from May, with a reserve ratio of 119.54%; the ETH reserve amount is 275,530 coins, a 16.7% increase from May, with a reserve ratio of 125.84%.It is understood that Gate.io's October reserve report covers 209 digital assets, with each asset's reserve ratio exceeding 100%. Users can verify their account asset reserves at any time on the 100% reserve page.

ChainCatcher news, Tether CEO Paolo Ardoino posted on social media that currently, the market capitalization of USDT has reached 91 billion USD, with an excess reserve increase of about 4 billion USD in 2023. Tether has invested in several projects, including Holpunch, Synonym, and Northern Data, as well as Tether Energy in the Bitcoin mining sector. The company plans to launch new products in 2024 to continue consolidating existing products.

ChainCatcher news, Tether released the assurance opinion for the second quarter of 2023 completed by the independent accounting firm BDO, detailing the assets held by Tether as of June 30, 2023. Tether revealed that its excess reserves increased by approximately $850 million, bringing the total excess reserves to about $3.3 billion by the end of the second quarter.Tether's excess reserves are the company's own profits, not distributed to shareholders, and the company has decided to keep them above the 100% reserves maintained by Tether to support all outstanding tokens. Additionally, from April 2023 to June 2023, Tether's operating profit exceeded $1 billion, a 30% increase quarter-over-quarter. Tether's overall exposure to U.S. Treasury Bills (US T-Bills) is approximately $72.5 billion.As of June 30, 2023, Tether's consolidated total assets were at least $86,499,251,218, with total consolidated liabilities of $83,200,775,340, of which $83,178,020,411 were related to issued digital tokens, and the consolidated assets exceeded its consolidated liabilities.

ChainCatcher news, Tether announced the completion of an audit conducted by the independent accounting firm BDO Italia, showing that Tether's net profit for the first quarter of 2023 reached $1.48 billion, more than doubling from the previous quarter, bringing its excess reserves to $2.44 billion, far exceeding the $960 million in the fourth quarter of 2022.Tether stated that as of May 9, Tether's total assets were at least $81.8 billion, with liabilities of $79.4 billion. Of the reserve assets, 85% are held in the form of cash, cash equivalents, and other short-term deposits. The value of precious metals and Bitcoin accounts for about 4% and 2% of the total reserves, respectively. (source link)

ChainCatcher news, according to CNBC, Tether's Chief Technology Officer Paolo Ardoino stated that Tether will achieve a profit of $700 million in the first quarter of 2023, bringing its excess reserves (the portion of reserve funds exceeding the amount of USDT issued) to $1.66 billion. Paolo Ardoino noted that this is the first time USDT's excess reserves have surpassed $1 billion. (source link)

ChainCatcher news, Tether's official statement in "The Evolution of Tether's Reserves" pointed out that in 2022, Tether reduced commercial paper risk to zero, with no liquidity gaps for USDT holders, and Tether did not shrink. USDT is now supported by over 81% cash and cash equivalents, including over $39 billion in direct exposure to U.S. Treasury securities, money market funds, reverse repurchase agreements, as well as cash and bank deposits.Tether stated that despite choosing collateral based on its conservative and liquid nature, Tether's reserves and operations have generated over $700 million in net profits, which have been added to Tether's reserves, resulting in a total excess reserve amount of $960 million. (Source link)