Key Takeaways:
- Tether reported record-breaking profits of $5.2 billion in H1 2024 and holds $97.6 billion in US government bonds, surpassing all but 17 global governments.
- Tether’s USDT stablecoin has a market capitalization of approximately $114 billion, backed 1:1 with liquid USD-denominated assets.
- Tether’s total reserves are over $118 billion, with investments in AI, biotech, and sustainable energy, reflecting its diversified portfolio.
Tether announced record-breaking profits of $5.2 billion in the first half of 2024 and a significant stockpile of US government bonds valued at $97.6 billion, placing its Treasury reserve ahead of all but 17 global governments.
Tether’s USDT stablecoin, backed 1:1 with liquid US dollar-denominated assets, has a market capitalization of around $114 billion.
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 Billionhttps://t.co/G4pt0xp2bh
— Tether (@Tether_to) July 31, 2024
Tether’s total reserves exceed $118 billion, with a consolidated net equity of $11.9 billion as of June 30.
Tether has been investing profits in diverse sectors including AI, biotech, and sustainable energy.
So @Tether_to just announced their record breaking $5.2 billion earnings for the first half of this year.
— Simon Dedic (@scoinaldo) July 31, 2024
Do you guys actually understand how huge this is?
That's almost 30 million USD a day. IN PROFITS.
That's probably more than most S&P500 companies have.
Bullish on $USDT pic.twitter.com/kqJuB258fk
Stablecoins like USDT and USDC are rapidly growing, with payments volume surpassing $4 trillion.
The tokenized US Treasury market is predicted to reach $3 billion by the end of 2024, highlighting crypto’s increasing demand for US Treasurys.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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