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Tether has announced a record $5.2 billion in net profits for the first half of 2024, driven by the growth of its stablecoin USDT, which reached an all-time high market capitalization.
Tether, one of the largest crypto companies in the industry and issuer of the most widely used stablecoin USDT, has released its attestation report for the first half of the year, recording substantial gains that amount to nearly $1 billion per month. Transition To US Treasuries Pays Off According to the report, independently audited by accounting firm BDO, Tether's net operating profit for the second quarter of 2024 reached a new high of $1.3 billion, propelling the company's total net profit for the first half of the year to over $5 billion.
Tether, a prominent stablecoin issuer, disclosed a pause in Bitcoin acquisitions despite achieving a record $1.3 billion net operating profit for Q2 2024. The financial assurance, audited by BDO, a top global accounting firm, marked this shift.
Tether has some big news. They've raked in a whopping $5.2 billion net profit for the first half of 2024.
Leading stablecoin issuer Tether, the company behind the USDT token, has announced record-breaking profits of $5.2 billion for the first half of 2024 while also revealing a significantly expanded portfolio of U.S. government bonds, now valued at an estimated $97.6 billion. According to a recent announcement, Tether's ownership of U.S.
Tether's USDT has become dominant with over 70% market share, after USDC's decline following the SVB collapse.
Tether has reported a net profit of $5.2 billion for the first half of 2024, driven by strong revenue from traditional asset investments.
Tether Holdings (CRYPTO: USDT) Limited has disclosed $5.2 billion profit for the first half of 2024, setting a new record for the company in its second-quarter attestation. What Happened: Tether's Q2 attestation reflects a group equity of $11.9 billion as of June 30, 2024.
Tether Holdings announced a record-breaking net profit of $5.2 billion for the first half of 2024. according to its recently released second-quarter attestation conducted by BDO, a leading global independent accounting firm.
Tether Holdings Limited has posted an impressive financial performance for the first half of 2024, showcasing a remarkable $5.2 billion in returns. As the cryptocurrency market teeters on the edge of another potential surge, Tether's robust earnings have captured the attention of investors and industry insiders alike.
The company said its $97 billion exposure to U.S. Treasuries would put it 18th in the ranking among countries.
USDT issuer Tether disclosed net profits of $1.3 billion in the second quarter of the year, adding to the $4.5 billion generated in Q1 to set a new record. Tether's (USDT) second quarterly attestation reported that the company hit $5.
TL;DR Tether reports record net operating profit of $1.3 billion for Q2 2024, bringing the total to $5.2 billion in the first half of the year. Tether's exposure to U.S. Treasury bonds hit an all-time high of $97.6 billion, ranking 18th globally in Treasury ownership. The Group's consolidated net worth is $11.
The company says it's already been a record-breaking year for its portfolio.
Tether has just released its attestation report for Q2 2024, declaring a $5.2 billion profit for the first half of 2024.
Tether Holdings Limited reported a record-breaking net profit of $5.2 billion for the first half of 2024, according to its latest assurance opinion for the second quarter. The report, conducted by BDO, highlighted Tether's increased exposure to U.S. Treasury bills and a significant rise in group equity.
Tether said its US Treasury reserve surpasses the size of all but 17 of the world's governments.
Tether said its US Treasury reserve surpasses the size of all but 17 of the world's governments.
Tether declared its record net operating profit at $1.3 billion for Q2 2024, adding to the total net profit of $5.2 billion in the first half of the year.
USDT Stablecoin issuer Tether Holdings Ltd has released its attestation report for the second quarter (Q2) of this year. Beyond maintaining its dominance for the quarter, the firm said it has grown its profit base significantly.
Tether has benefited from the post-COVID inflationary economy and invested reserves in U.S. Treasuries, according to its latest attestation.
Tether's record profit underscores its growing influence in global finance, highlighting the increasing importance of stablecoins in economic stability. The post Tether reports record-breaking $5.2 billion profit in H1 2024 appeared first on Crypto Briefing.
Tether's Q2 2024 attestation reveals a record $5.2 billion profit in the first half of 2024, highest-ever treasury bill ownership, and almost $12 billion in consolidated equity.
In India, USDT is sold at a premium or marked-up rate, putting pressure on local crypto traders and investors. With tight regulations and added costs when it comes to escaping volatility, what is life really like for Indian traders?
