Tether Sets New Record With $4.52 Billion Net Profit in Q1 2024
- Tether has reported a record-breaking return for Q1 2024.
- The firm noted that its net profit hit a record high of $4.52 billion in Q1 2024.
- Tether also recorded a total group equity of $11.37 billion.
Tether, the world’s leading stablecoin issuer, has reported a record-breaking return for Q1 2024. In a recently published Q1 2024 attestation report, the firm noted that its net profit hit a record high of $4.52 billion, with total group equity of $11.37 billion, marking its highest-ever treasury bill ownership percentage.
The released figures reflected Tether Holdings Limited’s significant growth since the beginning of 2024. However, the firm attributed this success to those charged with issuing its stablecoin offering and managing respective reverses. It noted the contribution of $1 billion from this category of participants.
Furthermore, Tether noted that the bulk of the $1 billion profit earned by those charged with…
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