San SalvadorTether’s excess reserves fell to $4.11 billion from $8.23 billion.
The stablecoin issuer earned $1.5 billion this quarter while shifting further into gold and 98,933 bitcoin, a BDO attestation shows — not an audit.
USDT circulates as the working dollar across Turkey, Nigeria and Pakistan; holders carry no deposit insurance anywhere.
Sources: CoinDesk