Unprecedented Q1 2024 Profits for Tether (USDT): A Record-Breaking $4.52 Billion Net Gain

• Tether, the world’s leading stablecoin issuer, has reported a record-breaking return for Q1 2024.
• The firm’s net profit hit a record high of $4.52 billion, with total group equity of $11.37 billion.
• The released figures reflect Tether Holdings Limited’s significant growth since the beginning of 2024.

Tether, the world’s leading stablecoin issuer, reports a record-breaking Q1 2024 return with a net profit of $4.52 billion and total group equity of $11.37 billion, reflecting significant growth.

Tether Reports Record-Breaking Q1 2024 Return

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.

Contributing Factors to Tether’s Success

The released figures reflect 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 issuing stablecoins stemmed from net operating profits, primarily derived ... Read the full article for FREE at COINOTAG!