TechFlow news — On July 31, according to official announcements, Tether's Q2 2024 report revealed that the company achieved $5.2 billion in profits during the first half of 2024, a record high, with net operating profit reaching $1.3 billion. Its direct and indirect holdings of U.S. Treasuries exceeded $97.6 billion, ranking 18th overall and third in purchases of 3-month U.S. Treasury bills.
As of June 30, 2024, Tether’s consolidated net assets amounted to $11.9 billion, with over $8.3 billion worth of USDT issued during the second quarter. A portion of the profits was reinvested into strategic projects to support the ecosystem, while maintaining excess reserves of $5.3 billion.
Tether CEO Paolo Ardoino stated that Tether has once again demonstrated its commitment to transparency, stability, liquidity, and risk management, continuing to lead the stablecoin industry.
