Tether CTO: The company's first quarter profit has exceeded $700 million

PANews reported on April 10 that Tether Chief Technology Officer Paolo Ardoino said on Twitter today that the company's profits in the first quarter of this year have exceeded US$700 million.

Earlier on March 24, Paolo Ardoino had expected excess reserves to increase by $700 million this quarter, which would bring Tether's excess reserves to $1.66 billion. This would be the first time that Tether's excess reserves have exceeded the $1 billion mark.