Tether announced record profits of $5.2 billion for the first half of 2024 and increased its holdings of US Treasuries to $97.6 billion. USDT's total market capitalization is about $114 billion, just shy of Tether's reserves of $118 billion. The company plans to become the largest holder of 3-month Treasuries USA next year. 📉

Tether also invests in AI, biotechnology and telecommunications.