Tether has enough reserves to support USDT
The company anticipates that its Q1 2023 profits will reach $700 million, with its total excess reserves amounting to $1.66 billion. These reserves will be used to further capitalize the stablecoin.
Note that during March 2023, USDT's market supply increased by almost 8 billion – from 70.98 billion to 78.14 billion coins.
Tether is making money, while banks are collapsing, — emphasized the company's CTO, Paolo Ardoino, in today's CNBC interview.
