Tether, issuer of the USDT stablecoin, held $3.3 billion of reserve assets in excess to back the value of its stablecoins, the firm reported in its Q2 attestation on Monday. Signed by accounting firm BDO Italy, the attestation disclosed about $72.5 billion of exposure to U.S. Treasuries. The company's bitcoin (BTC) holdings as of June 30 increased in dollar value to $1.67 billion from $1.5 billion three months earlier, according to the filing, though the number of tokens held was not disclosed. Tether said its operational profits exceeded $1 billion for the second quarter. In May, the firm reported $1.45 billion in "net profits" in Q1.
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