Tether Reports Record-Breaking $5.2 Billion Profit In First Half Of 2024, Highest Treasury Bill Ownership Ever and Largest Ever Group Consolidated Equity At Almost $12 Billion

The second quarter of 2024 has been an exceptional period for Tether, with net operating profit of $1.3 billion, the company's best result to date.

Tether Holdings Limited has released its Q2 2024 attestation report, which reveals a net operating profit of $1.3 billion for the quarter and a record-breaking $5.2 billion profit in the first half of 2024.

The report, which was audited by BDO, one of the world’s leading independent accounting firms, also shows that Tether had a net unrealized loss of $653 million due to falling Bitcoin prices, but this was largely offset by an unrealized gain of $165 million on gold investments.

As a result, the group's assets increased by $520 million during Q2.

This brings Tether's total assets to $17.1 billion and its consolidated net worth to almost $12 billion as of June 30, 2024.

The company also maintains excess reserves of $5.3 billion, which serves to bolster the stability of its token.

The report further highlights Tether's remarkable standing in the financial markets, with ownership of U.S. Treasury bonds that surpasses several countries, including Germany, the United Arab Emirates and Australia.

Globally, Tether ranks 18th in the list of countries with U.S. debt and third in purchases of 3-month Treasury bonds, trailing only the United Kingdom and the Cayman Islands.

This achievement underscores Tether's growing presence and influence in the world of finance.

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