Tether Holdings has made public its attestation report for the fourth quarter of 2023, which was executed by the audit firm BDO. The report indicates that the company experienced an unprecedented level of success in the fourth quarter. It recorded a total net income of $2.85 billion. Net operations accounted for $1 billion of the earnings, with the majority of the rest stemming from increased values in gold and Bitcoin holdings. The audit document further indicates an overall gain of about $6.2 billion for the year 2023. In a press release from Tether, it was reported that their surplus reserves reached a record spike, climbing by $2.2 billion to a new total of $5.4 billion. Additionally, they allocated $640 million to a range of strategic initiatives. The initiatives encompassed activities such as the extraction of Bitcoin currency, the development of artificial intelligence systems, among additional endeavors. In other news, China has declared the utilization of Tether in currency trading to be unlawful. Additionally, Tether mentioned in its Q4 report that the tokens it created were supported by assets including cash and equivalents to the amount of 90%. Highlighting its commitment to ensuring the fluidity of the stablecoin environment, Tether’s CEO Paolo Ardoino expresses in a recent post, “We at Tether are excited for the year 2024 as we have several new ventures and offerings in the pipeline ready for launch.”