Tether Reports $700M Profit Boost, Zero Commercial Paper In 2022

Tether Holdings Limited, the company behind the popular stablecoin USDT (CRYPTO: USDT) reported a net profit of more than $700 million in the last quarter of 2022, according to its latest Consolidated Reserves Report (CRR).

Timeline of Tether

Tether's latest attestation report revealed that the USDT issuer's assets exceeded its liabilities. CTO Paolo Ardoino claimed that the firm made a profit of $700 million in the last quarter of 2022.

Key Points: Tether, the stablecoin issuer, presented its latest attestation report on Thursday, showing a “net profit” of $700 million in the fourth quarter of 2022, which it claims is added to its reserves.

Tether Holdings Limited, issuer of the world's largest stablecoin USDT, on Thursday reported a $700 million profit made in the fourth quarter, as per its latest attestation report. The consolidated assets exceed its consolidated liabilities.

Following directives from the Ontario Securities Commission (OSC), Crypto.com has announced its plans to delist USDT from its platform for all users in Canada. The January 31st deadline was made public to Crypto.com users in Ontario, sparking wide FUD on the fate of the world's largest stablecoin.

Tether USDT processed $18.2 trillion worth of transactions in 2022, ahead of traditional payment processors like Visa and Mastercard. The post Tether's 2022 Settlement Volume Flips Visa and Mastercard appeared first on BeInCrypto.

Since an 11 January report revealed Tether's [USDT] plans to delist from the Canadian market, the stablecoin has become the subject of Fear, Uncertainty, and Doubt (FUD). Tether, however, continued to attract interest from sharks and whales despite the latest update until press time.

In December, the Canadian Securities Administrators (CSA) announced strengthening its approach to oversight of crypto trading platforms by expanding existing requirements for platforms operating in Canada. 

Crypto.com has announced that it will no longer facilitate transactions that feature USDT as it looks to comply with the latest regulations issued by the Ontario Securities Commission (OSC).  The move to delist USDT comes after Canadian authorities outlined their commitment to more robust oversight of exchanges following the collapse of FTX.

Crypto asset exchange and wallet provider Crypto.com has announced that it will delist Tether, the world's leading stablecoin, for Canadians. The post Crypto.com to Delist Tether in Canada to Satisfy Updated Crypto Regulations appeared first on BeInCrypto.

Cryptocurrency exchange Crypto dot com will delist USDT and USDT trading pairs on its app and platform for residents in Canada on January 31 at 06:00 UTC, according to an email shared with the users of the jurisdiction. The post Crypto.com to delist USDT for Canadians appeared first on CryptoSlate.