Tether's Q3 financial report

Tether Reports Record-Breaking $5.2 Billion Profit in H1 2024, $1.3B Net Operating Profit in Q2

Jul 31, 2024, 04:07 PM

Tether Holdings Limited has released its Q2 2024 attestation, reporting a record-breaking profit of $5.2 billion for the first half of 2024. The company achieved a net operating profit of $1.3 billion in Q2 alone. Tether's group equity increased by $520 million, bringing the total to $11.9 billion. The attestation also revealed that Tether holds $97.6 billion in U.S. Treasury securities, surpassing the holdings of Germany, the UAE, and Australia. Additionally, Tether's Bitcoin holdings amount to $4.7 billion, and the company has $5.33 billion in excess reserves. Tether's consolidated equity is at an all-time high, nearing almost $12 billion.