2024

<h4><strong>The June 30, 2024 attestation reflects Tether’s stablecoin market dominance and prudent investment strategies.</strong></h4> 
<p>Tether <a href="https://tether.io/news/tether-q2-2024-attestation-reports-record-breaking-5-2-billion-profit-in-first-half-of-2024-highest-treasury-bill-ownership-ever-largest-ever-group-consolidated-equity-at-almost-12-billion/" target="_blank" rel="noopener">reported</a> a net operating profit of $1.3 billion for the second quarter of 2024. This impressive profitability is indicative of Tether’s efficient operations and its ability to generate substantial revenue from its core activities.</p> 
<h5><strong>Record Profits and Strategic Investments Drive Growth</strong></h5> 
<p>The company’s strong financial performance is further underscored by a $520 million increase in Tether’s Group’s equity, bringing the total equity to $11.9 billion.&nbsp;A significant highlight of the Q2-2024 attestation is Tether’s $5.33 billion in excess reserves. These reserves act as a financial cushion, providing additional security for Tether’s stablecoin, USDT.</p> 
<p>Tether’s investment in U.S. Treasuries reached a new all-time high of more than $97.5 billion, marking an increase of approximately $7 billion from the previous quarter. This substantial holding in Treasuries not only underscores Tether’s strategic asset allocation but also positions it prominently on the global stage.</p> 
<p><img decoding="async" class="wp-image-147123 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfgfgh-300x255.jpg" alt="" width="509" height="433" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfgfgh-300x255.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfgfgh.jpg 393w" sizes="(max-width: 509px) 100vw, 509px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/Tether_to/status/1818672292827713614" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Tether now ranks 18th among countries owning U.S. debt, surpassing notable nations such as Germany, the United Arab Emirates, and Australia. This is particularly significant as it comes at a time when other countries, including China, have been net sellers of U.S. Treasuries.</p> 
<p><strong>Bitcoin Holdings</strong></p> 
<p>In addition to its impressive holdings in traditional financial instruments, Tether also maintains a considerable position in cryptocurrencies. As of June 30th, 2024, Tether’s Group owned approximately 80,000 <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoins</a>. This substantial bitcoin holding demonstrates Tether’s diversified asset strategy and its belief in the long-term potential of cryptocurrencies.</p> 
<p><img decoding="async" class="wp-image-147125 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GT05auSXAAAden--256x300.png" alt="" width="494" height="579" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GT05auSXAAAden--256x300.png 256w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GT05auSXAAAden--358x420.png 358w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/GT05auSXAAAden-.png 537w" sizes="(max-width: 494px) 100vw, 494px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/SplitCapital/status/1818673238525849703" target="_blank" rel="noopener">X</a></strong></h6> 
<h5><strong>Conclusion</strong></h5> 
<p>Tether’s Q2-2024 attestation reflects a company that is not only financially robust but also strategically agile. With a net operating profit of $1.3 billion, a significant increase in own equity, and substantial holdings in U.S. Treasuries and Bitcoin, Tether continues to solidify its position as a leader in the <a href="https://www.altcoinbuzz.io/?s=stablecoin" target="_blank" rel="noopener">stablecoin</a> market.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/tether-q2-2024-1-3b-profit-record-treasury-holdings/">Tether Q2-2024: $1.3B Profit, Record Treasury Holdings</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Tether Q2-2024: $1.3B Profit, Record Treasury Holdings

Altcoin Buzz

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