Tether Releases Q2 2024 Attestation: Reports Record-Breaking $5.2 Billion Profit In First Half Of 2024, Highest Treasury Bill Ownership Ever and Largest Ever Group Consolidated Equity At Almost $12 Billion - Tether.io
Powered by @unfolded- Tether released its Q2 2024 attestation, reporting a record-breaking $5.2 billion profit in the first half of 2024.
- The company demonstrated strong financials with significant revenue from traditional asset-class investments, mainly U.S. Treasuries, and an unprecedented ownership of U.S. Treasuries exceeding $97.6 billion.
- In Q2 2024, Tether's group equity increased by $520 million despite fluctuations in BTC prices, reaching an impressive $11.9 billion by June 30, 2024.
- Tether reinvested part of its Q2 profits in strategic projects, maintained excess reserves of $5.3 billion for token stability, and issued over $8.3 billion in USDt during the quarter.