2024-08-01
Tether Holdings Limited is a company that issues Tether (USDT) stablecoin.
Tether Holdings Limited has released
its Q2 2024 attestation on July 31, 2024, revealing financial statement.
Tether made a record-breaking profit of
$5.2 billion in first half of 2024.
Tether reported a net operating profit
of $1.3 billion for Q2, contributing to a total net profit of $5.2 billion for
the first half of 2024.
For Treasury Bill Ownership, the
company has surpassed $97.6 billion in direct and indirect ownership of U.S.
Treasuries, setting a new record and positioning Tether 18th in the rankings of
countries owning U.S. debt.
The Group Consolidated Equity reached
nearly $12 billion as of June 30, 2024.
As of June 30, 2024, the Reserves for
Tether tokens in circulation amount to $118,436,336,293.
The attestation, conducted by BDO, a
global independent accounting firm, reaffirms the accuracy of Tether’s
financials and reserves.
The company also maintains a sizable number
of excess reserves, amounting to $5.3 billion, to support the stability of the
USDT.
