Tether estimates it will make $700M profit in Q1 and will have ~$1.6B in excess reserves to back its USDT stablecoin, the first time it crosses the $1B mark (Arjun Kharpal/CNBC)

Arjun Kharpal / CNBC:
Tether estimates it will make $700M profit in Q1 and will have ~$1.6B in excess reserves to back its USDT stablecoin, the first time it crosses the $1B mark  —  – Cryptocurrency firm Tether estimates it will make $700 million profit in the March quarter, taking its total excess reserves to over $1 billion …