Tether posts $1.04B Q1 profit; reserve buffer hits record $8.23B with about $141B in U.S. Treasuries backing USDT

Tether said it earned $1.04 billion in profit in the first quarter, while its reserves climbed to a record $8.23 billion buffer. The company also reported that roughly $141 billion in U.S. Treasuries back its USDT stablecoin.