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According to a report by Jinse Finance, Tether International released its Q1 2025 report today, completed by BDO, one of the world's top five independent accounting firms. The report confirms the accuracy of Tether's Financial Data and Reserve Report (FFRR) and provides a transparent breakdown of the assets backing fiat-pegged stablecoins as of March 31, 2025. The report states that Tether's total exposure to U.S. Treasury securities (including indirect holdings in money market funds and reverse repurchase agreements) reached a historic high of nearly $120 billion. This milestone not only validates its conservative reserve management strategy but also highlights Tether's significant role as a major hub for the distribution of U.S. dollar liquidity. Tether's Q1 traditional investment portfolio achieved over $1 billion in operating profit, primarily due to the robust performance of U.S. Treasury holdings, while gold investments almost completely offset the impact of cryptocurrency market volatility. Additionally, USDT circulation increased by approximately $7 billion in the first quarter. As of March 31, 2025, the company's management confirmed the following key data: • Total issuer assets of at least $149,274,515,988 • Total issuer liabilities of $143,682,673,588, of which $143,678,070,758 are liabilities for issued digital tokens • Issuer assets fully cover consolidated liabilities • Proprietary investments in emerging fields such as AI and energy through Tether Investments are not included in token reserves • Approximately 46 million new USDT wallets were added this quarter, a 13% increase from the previous quarter

According to on-chain analyst Ember's monitoring, a whale that has repeatedly shorted ETH at the peak of $1800 has currently shorted 10,000 ETH at an average price of $1,791, with an unrealized loss of $510,000. In the past hour, they continued to borrow and short 4,000 ETH, bringing the total short position to 10,000 ETH.