Tether Holdings Limited achieved a record-breaking $5.2 billion profit in the first half of 2024.
Tether holds $97.6 billion in U.S. Treasuries, ranking 18th globally and 3rd in 3-month Treasury purchases.
Tether's group equity increased by $520 million in Q2 2024, reaching an impressive $11.9 billion in net equity.
Tether Holdings Limited has announced a net operating profit of $1.3 billion for the second quarter of 2024. This propels the total profit for the first half of 2024 to $5.2 billion. Notably, Tether's total profits for 2023 were $6.2 billion.
https://twitter.com/BSCNews/status/1818768513999233236 Global Treasury Holdings and Equity Growth
Tether has significantly cemented its position in the global market by amassing $97.6 billion in U.S. Treasuries. This elevates its ranking to 18th globally and secures 3rd spot in 3-month Treasury purchases.
Tether's group equity surged by $520 million in the second quarter of 2024. This occurred despite facing $653 million unrealized loss from BTC price drops. The result is an impressive $11.9 billion in consolidated net equity as of June 30, 2024.
Strategic Reinvestment and Reserves Management
Tether's profits were strategically reinvested in a number of ventures. This strategy seeks to maintain token stability while also promoting ecosystem expansion. It demonstrates Tether's dedication to maintaining a solid and sustainable financial position. Furthermore, Tether released more than $8.3 billion in USDT in the second quarter of 2024 and Its reserves exceeded liabilities by $5.33 billion.
Commitment to Technological Advancement and Responsible Risk Management
Tether continues to lead in stability and liquidity with substantial investments in sustainable energy, Bitcoin mining, AI neurotech and other cutting-edge technologies. This reaffirms Tether's dedication to technological advancement and responsible risk management.
Tether's remarkable financial performance in the first half of 2024 not only demonstrates an unwavering commitment to financial stability and transparency but also solidifies its position as a global leader in the financial sector.
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The post Tether Holdings Limited Achieves Record-Breaking $5.2 Billion Profit in First Half of 2024 appeared first on Crypto News Land.
