Tether Reports Record $5.2B Profit In Q2
Portfolio Pulse from Khyathi Dalal
Tether Holdings reported a record $5.2 billion profit for the first half of 2024, with a net operating profit of $1.3 billion in Q2. The company's financial strength is attributed to its investments in U.S. Treasuries, with ownership reaching over $97.6 billion. Tether issued more than $8.3 billion in USDT in Q2, further solidifying its financial position.
July 31, 2024 | 6:52 pm
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Tether Holdings reported a record $5.2 billion profit for the first half of 2024, with a net operating profit of $1.3 billion in Q2. The company's financial strength is attributed to its investments in U.S. Treasuries, with ownership reaching over $97.6 billion. Tether issued more than $8.3 billion in USDT in Q2, further solidifying its financial position.
The record profit and strong financial position, driven by significant investments in U.S. Treasuries, indicate a positive outlook for Tether. The issuance of more USDT further strengthens its market position.
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