Tether Achieves Record Quarterly Profits through US Treasury Bonds Investment
Wednesday, 1 May 2024, 17:00
Tether Posts Record Quarterly Profits of $4.52 Billion
Tether, the entity behind the leading stablecoin USDT, reported a record net profit of $4.52 billion for the first quarter of 2024. It was mainly driven by gains from its substantial US Treasury holdings.
US Treasury Bonds Boost Tether Profits
The firm attributed this remarkable growth to its strategic investments in US Treasury bonds, which currently exceed $90 billion. Tether's net equity stood at $11.37 billion as of March 31, 2024, showcasing adept management of a diverse asset portfolio amid volatile market conditions.
- This performance marks a significant financial milestone for the company, underscoring its commitment to transparency and trust.
- Tether's high liquidity ratio ensures it can swiftly meet withdrawal demands and maintain stability for USDT.
- The increased disclosure practices distance Tether from past controversies and reinforce its regulatory compliance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.