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April volumes shrank slightly as FDUSD and USDe had their best months ever, a sign the market is primed to grow more.

Tether Holdings Ltd, the issuer of the popular USDT stablecoin released its assurance report for the first quarter of 2024, recording a net profit of $4.52 billion. This marks a huge milestone for the firm as it builds on the momentum from Q4, 2023.

Tether's Bitcoin investment is paying off, achieving much greater profit than the company's immense bond portfolio.

TL;DR Tether Holdings reported a record net profit of $4.52 billion in the first quarter of 2024. Most of the profits came from financial operations with Bitcoin and gold. Transparency and stability were highlighted with the disclosure of his net worth and the support of his stablecoins.

Stablecoin issuer Tether has notched a record quarterly net profit at a time during which the company is broadening its scope.

USDT issuer Tether set a new record after making $4.5 billion in net profits during the first quarter of 2024.

Tether Holdings Limited, the issuer of USDT stablecoin, has unveiled the attestation report for the first quarter of FY24. The latest attestation, as of March 31, 2024, goes beyond the reserves backing Tether Fiat-denominated stablecoins.

Tether profits hit a Q1 2024 record of $4.52 billion, driven by US Treasury bond holdings and asset returns.

Tether Holdings Limited reports a Q1 net profit of $4.52 billion and a net equity of $11.37 billion, highlighting its financial growth and stability. The post Tether reports record $4.52 billion Q1 profit appeared first on Crypto Briefing.

The majority, or $3.52 billion of the profit, stemmed from the firm's financial gains on Bitcoin and gold, while the additional $1 billion came from operating profits.

Besides record profit, Tether highlighted its large Treasury bill holdings, disclosed a $11.37 billion net equity, and detailed investments in sectors like AI and renewable energy.

Tether, the giant behind the world's largest stablecoin USDT, announced a $200 million strategic investment in Blackrock Neurotech, a brain-interface company. The investment also marks the launch of Evo, a new business division for the company that will examine investments in initiatives that merge tech and human potential.

Is USDC's overtaking of USDT a signal of changing stablecoin dynamics and regulatory needs?

Though Bitcoin prices are fast-dropping, looking at events in the daily chart, one analyst thinks the coin is gearing up for a comeback, citing developments in the USDT dominance chart, or USDT.D. USDT Dominance Falling, Good For BTC?

Circle-backed USDC has seen its market share rise, indicating an inclination for regulated alternatives.

It will be possible to withdraw USDT from the exchange on The Open Network blockchain simply by indicating the public address.

Not long after blockchain company Ripple announced that it would launch its own stablecoin, pitting it against the likes of Tether (USDT) and Circle, the issuer of USD Coin (USDC), the Tether team made a snarky comment suggesting its competitor had been unsuccessful in its stablecoin endeavors so far.

USD Coin (USDC) has surpassed Tether (USDT) in transaction volume, marking a significant shift in stablecoin market dynamics according to Visa's latest data.

The seemingly unshakeable reign of Tether (USDT) as the king of stablecoins faces a new challenger. Circle's USD Coin (USDC) has pulled off a surprise victory, recording a higher transaction volume than Tether in April 2024, according to on-chain analytics from payments giant Visa.

The volume of transactions of stablecoins, Tether (USDT), USD Coin (USDC) and DAI, has surpassed that of Visa in 2023.

Tether has reportedly invested $200 million in neural implant company, Blackrock Neurotech. This investment comes as part of the company's restructuring.

Tether, the entity behind the USDT stablecoin, has announced a $200 million strategic investment to acquire a majority stake in the brain-computer interface company Blackrock Neurotech.

Tether, the leading stablecoin provider famous for USDT, has recently disclosed a strategic investment in Blackrock Neurotech, a major player in brain-computer interface (BCI) technology and a competitor to Elon Musk's Neuralink.

In an announcement on April 29, Tether, the issuer of popular stablecoin USDT, revealed its strategic investment of $200 million into Blackrock Neurotech, a leading neural implant company.