Tether Holdings Limited reported a net profit of $700M in its fourth-quarter earnings call.

Tether Holdings Limited reported a net profit of $700M in its fourth-quarter earnings call.  Tether is owned by Hong Kong-headquartered Ifinex and said that it has added the net profit to its reserves.  Tether said its latest quarter saw higher yields on government debt due to federal reserve rate hikes.  As a result, the company told CNBC that it is not disclosing any financial information other than that reported in the Consolidated Reserves Report.  Tether's business model includes: $1,000 withdrawal fee (with a minimum withdrawal requirement of $100,000); and investments in digital tokens and precious metals, as well as issuing loans to other institutions.