Tether Achieves Record $5.2 Billion Profit in First Half of 2024

Stablecoin issuer's US debt holdings surpass Germany's, bolstering reserves and market position.

Tether's net equity increased to $11.9 billion, with $5.3 billion in excess reserves.
The company reported $1.3 billion in net operating profit for Q2 2024.
Tether's US Treasury holdings reached an all-time high of $97.6 billion.
$8.3 billion in USDT was issued in Q2, while competitors USDC and DAI saw declines.
Questions arose over discrepancies in Tether's reported Bitcoin holdings.