Tether Announces 2024 First Quarter Earnings Statement

Stablecoin leader Tether has shared its first-quarter earnings. The company announced a net profit of $4.52 billion, backed by the US Treasury and Bitcoin. Tether, the company behind the widely used stablecoin USDT, said that there was a 61% increase from the previous quarter in the first quarter of 2024, marking a record net profit of $4.52 billion