Tether Records Historic $4.52 Billion Profit in Q1 2024

The record profit was primarily driven by significant gains in Bitcoin and U.S. Treasury holdings.

Tether's Q1 profit of $4.52 billion marks the highest in its history, doubling the previous quarter's earnings.
The profit surge was fueled by $1 billion in net operating profits from U.S. Treasury bills and substantial mark-to-market gains in Bitcoin and gold.
Tether's market capitalization reached approximately $110 billion, solidifying its position as a leading stablecoin provider.
The company's total reserves exceeded its liabilities by over $6.3 billion, highlighting its financial stability.
Tether continues to expand its operations beyond stablecoins, investing in technology and infrastructure for the crypto industry.