Tether Reports Record-Breaking Financial Performance in Q2 2024

At Extreme Investor Network, we are thrilled to share the latest insights into Tether’s remarkable financial performance in the second quarter of 2024. Tether Holdings Limited recently released its assurance opinion for Q2 2024, conducted by BDO, affirming the accuracy of Tether’s Consolidated Financials Figures and Reserves Report (CFFRR).
Record-Breaking Financial Performance
During Q2 2024, Tether reported a net operating profit of $1.3 billion, leading to a record net profit of $5.2 billion for the first half of the year. This exceptional performance was driven by strong revenue streams from traditional asset-class investments, with a focus on U.S. Treasuries.
Unprecedented Treasury Bill Ownership
In Q2 2024, Tether achieved an unprecedented level of direct and indirect ownership of U.S. Treasuries, surpassing $97.6 billion. This milestone positions Tether among the top countries in terms of U.S. debt ownership, with projections to become the top holder in the near future.
Consolidated Equity and Transparency
Despite fluctuations in asset prices, Tether’s consolidated net equity reached an impressive $11.9 billion as of June 30, 2024. The company reinvested profits into strategic projects while maintaining excess reserves to ensure token stability.
Key Financial Metrics
- Reserves for Tether tokens in circulation: $118,436,336,293
- Liabilities of companies issuing Tether tokens: $113,101,998,938
- Assets composing reserves exceeded liabilities by: $5,334,337,355
Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to transparency, stability, and responsible risk management. He highlighted Tether’s unmatched financial strength and its ability to lead the stablecoin industry in stability, liquidity, and diverse investments.
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