Tether's profit for the first half of the year reached $5.2 billion, setting a new historical high.
Foresight News reported that Tether released its proof of reserves for the second quarter of 2024, with profits of $5.2 billion in the first half of 2024, a new record high, and net operating profit of $1.3 billion. In the second quarter of 2024, Tether's direct and indirect holdings of U.S. Treasuries in its token reserves exceeded $97.6 billion, a new record high. Tether ranks 18th among countries holding U.S. Treasuries, and ranks third in the purchase of 3-month U.S. Treasuries, behind the United Kingdom and the Cayman Islands.
Tether's consolidated net assets as of June 30, 2024, were $11.9 billion. A portion of the second quarter's profits were reinvested in strategic projects to support the ecosystem, while maintaining a large excess reserve ($5.3 billion), and issuing over $8.3 billion in USDT during the second quarter.
