According to Odaily, Tether CEO Paolo Ardoino stated on the X platform that the decline in Bitcoin prices has had a minimal impact on Tether's net profitability. Ardoino emphasized that Tether's primary objective has always been to create the most robust, stable, and resilient stablecoin. To further safeguard USDT's global user base, the management has decided to retain $5.33 billion in excess reserves as part of the stablecoin's reserves.