Tether Earned Over $1 Billion in Operating Profit During Q2 2023 as the US Tightens Its Noose Around Non-KYC-Compliant Stablecoins

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy. Tether (USDT), a stablecoin that is pegged to the US Dollar, has now released its attestation report for the second quarter of 2023, showing a healthy increase in excess reserves and operating profit. However, the crypto-focused partisanship in the halls of the Capitol is now spilling into the stablecoin arena, significantly ramping up the uncertainty around this nascent industry's prospects. Tether Reveals That its Excess Reserves Increased by 35 Percent, and Operating Profit Jumped by 30 Percent…