Tether Achieves Another Record Profit
May 1, 2024
Tether Holdings Limited, the issuer of the stablecoin, released its financial report for the first quarter of 2024, revealing that the company achieved a net profit of $4.52 billion, with total net equity exceeding $11.3 billion. The majority of the profit primarily came from interest on U.S. Treasury bonds, with the remaining portion from bitcoin and gold positions. According to the document, the company holds U.S. Treasury bonds valued at over $90 billion.
