Tether posts record $5.2bn first-half profit
On 31 July, Tether released its Q2 2024 Proof of Record H1 2024 Profit of $5.2bn and Net Operating Profit of $1.3bn. Q2 2024 saw a record high of over $97.6bn in direct and indirect holdings of U.S. Treasuries in the Token's Reserve. Tether ranks 18th in terms of countries that hold U.S. Treasuries. Tether ranks 18th among countries holding U.S. Treasuries, and third in purchases of 3-month U.S. Treasuries, behind the U.K. and the Cayman Islands.
Tether's consolidated net worth as of 30 June 2024 is $11.9 billion. A portion of Q2 profits were reinvested in strategic projects to support the ecosystem while maintaining significant excess reserves ($5.3bn), with more than $8.3bn of USDT issued during Q2.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
As Bitcoin Fell, a Billion-Dollar Gap Emerged at Michael Saylor’s Company—What Are the Costs Per BTC?
Tesla opens Cybercab purchases to invited individuals, starting at $29,990, with the first deliveries in December.
Tesla has officially opened reservations for the steering wheel-free Cybercab to individual consumers, with a starting price of $29,990 and the first deliveries scheduled for December 2026. This driverless two-seater electric vehicle will become Tesla’s lowest-priced model, and Elon Musk is even willing to halt production of the Cybertruck to prioritize it. However, the NHTSA has launched an investigation, and regulatory uncertainties may cast doubt on the commercialization of autonomous driving.
A certain exchange suspends KAVA deposit and withdrawal services
Don't be scared by the Nvidia turmoil and election noise! Morgan Stanley: AI turbulence does not change the main driver of the bull market, long-term outlook remains "extremely bullish"
The Chief Investment Officer of Morgan Stanley Wealth Management stated that management turmoil at Nvidia and the Democratic Party's victory in the midterm elections have further heightened market concerns about the AI sector. However, these factors will not shake the core driving force of this bull market—capital expenditure on AI infrastructure.
Crypto prices
More
