Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Tether Reports Record-Breaking $5.2 Billion Profit in First Half of 2024

Tether Reports Record-Breaking $5.2 Billion Profit in First Half of 2024

Hania by Hania
August 1, 2024
in General News
Reading Time: 2 mins read
A A
0
Tether Reports Record-Breaking $5.2 Billion Profit in First Half of 2024
Share on FacebookShare on Twitter
ADVERTISEMENT

In a significant financial milestone, Tether, the operator of the USDT stablecoin, has reported unprecedented profits of $5.2 billion for the first half of 2024. The company also revealed a substantial increase in its holdings of United States government bonds.

Tether’s Expanding US Treasury Portfolio

Tether’s latest report highlights its impressive US Treasury portfolio, now valued at approximately $97.6 billion. This growth underscores the increasing circulation of Tether stablecoins, which the company asserts are backed 1:1 with liquid US dollar-denominated assets.

Tether Reports Record-Breaking $5.2 Billion Profit in First Half of 2024
Source: Bluechip

The figures, verified by independent accounting firm BDO, indicate that Tether’s market capitalization for USDT stands at around $114 billion, with total reserves exceeding $118 billion.

Comparison with Global Governments

Tether’s Treasury reserves have now surpassed those of all but 17 countries worldwide, including major economies like Germany, the United Arab Emirates, and Australia. Notably, Tether ranks as the third-largest purchaser of three-month US Treasurys, following the United Kingdom and the Cayman Islands. The company anticipates potentially becoming the largest holder of these assets within the next year, driven by the continued adoption of USDt.

You May AlsoLike

Polymarket Bets

March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

March 1, 2025
Ethereum’s Pectra Upgrade

3 Essential Insights from Recent Developer Call on Ethereum’s Pectra Upgrade

March 1, 2025

image

Financial Health and Industry Expansion

As of June 30, Tether’s consolidated net equity, which accounts for all assets minus liabilities, was reported at $11.9 billion. The company issued approximately $8.3 billion in USDT during the second quarter alone. Tether’s robust balance sheet positions it as a leader in the stablecoin market, ensuring stability and liquidity.

Strategic Investments and Industry Impact

Tether is channelling a portion of its profits into various sectors, including sustainable energy, Bitcoin mining, data and AI infrastructure, peer-to-peer telecommunications technology, neurotech, and education. These investments reflect Tether’s broader vision to leverage its expertise across multiple industries.

The rapid adoption of stablecoins like Tether and its competitor USD Coin has led to a surge in total payment volumes, surpassing Visa and reaching over $4 trillion. The increasing demand for tokenized real-world assets has positioned cryptocurrency as a significant driver of US Treasury demand. According to research strategist Tom Wan, the market for tokenized US Treasurys is projected to reach $3 billion by the end of 2024.

Tags: Cryptocurrenciesstablecoins
Share76Tweet48
ADVERTISEMENT
Previous Post

Donald Trump’s Limited Edition Bitcoin Sneakers Hit eBay for $2,500

Next Post

Bybit Launches Indian Digital Rupee CBDC Payment Option for Enhanced Security

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Polymarket Bets
General News

March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

March 1, 2025
Ethereum’s Pectra Upgrade
General News

3 Essential Insights from Recent Developer Call on Ethereum’s Pectra Upgrade

March 1, 2025
Cramer Suggests Saylor Should Plan for a Strategic Bitcoin Reserve
General News

Cramer Suggests Saylor Should Plan for a Strategic Bitcoin Reserve

February 28, 2025
MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana
Crypto Wallets

MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

February 28, 2025
Bitcoin Bull Run Could Continue, says CryptoQuant CEO - Unless This Critical Threshold Is Breached
General News

Bitcoin Bull Run Could Continue, says CryptoQuant CEO – Unless This Critical Threshold Is Breached

February 28, 2025
Solana Futures Launch at CME Boosts Price Amid High Demand
General News

Solana Futures Launch at CME Boosts Price Amid High Demand

February 28, 2025
Next Post
Bybit Launches Indian Digital Rupee CBDC Payment Option for Enhanced Security

Bybit Launches Indian Digital Rupee CBDC Payment Option for Enhanced Security

Discussion about this post

Live Prices

You have not selected any currency to display

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • November’s Bitcoin Price Forecast: A Bullish Odyssey

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.