Tether Holding Limited, a stablecoin issuer, has reported an increase in its reserves, reaching an all-time high of $2.44 billion in the first quarter of 2023. This increase was likely due to the overall recovery of the crypto market during this time period.

Tether's Consolidated Reserves Report also revealed that its consolidated assets exceed its consolidated liabilities. Despite controversies and scrutiny in the past, Tether has taken steps to increase transparency by releasing regular attestations that provide information about the composition of its reserves.