According to Techub News, Tether released its first quarter financial data and reserve report, which was completed by BDO, one of the world's top five independent accounting firms. The report shows that Tether's total exposure to U.S. Treasury bonds has reached a historic high of nearly $120 billion, which includes indirect exposure to U.S. Treasury bonds through money market funds and reverse repurchase agreements. Tether also reported that the operating profit from its traditional investment business exceeded $1 billion this quarter, thanks to the robust performance of its U.S. Treasury bond portfolio, while the performance of gold nearly offset the fluctuations in the cryptocurrency market. In the first quarter, the circulating supply of USD₮ increased by approximately $7 billion, and the number of user wallets increased by 46 million.