Tether Cuts Top HSBC Gold Traders Weeks Before Audit
Washington's changed test raises the bar for USDT: reserve credibility now depends on audit-grade scrutiny, not only a point-in-time disclosure.
Every Zipp story tagged #Reserves, newest first.
Washington's changed test raises the bar for USDT: reserve credibility now depends on audit-grade scrutiny, not only a point-in-time disclosure.
The reserve cushion strengthens USDT's backing signal, while the physical gold count gives regulators and counterparties a concrete verification point.
Tether keeps printing record operating profits while the equity cushion that backstops USDT shrinks, leaving $4.1B against $183.6B of liabilities and a treasury now heavy in gold and BTC.
The reserve drawdown and the profit cooldown are linked: Tether's BTC and gold positions have cooled as the same assets that fueled last year's record earnings drag on this year's mark-to-market.
The profit print alone would be a beat, but the gold buildout is the structural signal: Tether is now one of the largest private holders of physical bullion on the planet.
Tether generated $1.04 billion in net profit during Q1, pushing its reserve buffer — the excess of assets over…
Excess reserves topping $8B for the first time puts Tether's war chest ahead of most US banks — and tightens the political pressure as stablecoin oversight bills near a floor vote.