Tether (USDT) Announces Second Quarter Report: Huge Profit Record

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Bitcoinsistemi2024/07/31 16:33

By:Mete Demiralp

Tether, the world's largest stablecoin company, shared with investors that it made a record profit in its second quarter report.

Tether (USDT) today announced its audit report for the second quarter of 2024 conducted by BDO, a leading global independent accounting firm.

The report confirms the accuracy of Tether's Consolidated Financial Figures and Reserves Report (CFFRR) and provides key consolidated financial figures for the company, including group equity, as of June 30, 2024.

The record profit of $5.2 billion in the first half of 2024 represents the highest ever treasury bond holdings and the largest ever group consolidated equity capital of around $12 billion.

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Tether CEO Paolo Ardoino said the following on the subject:

“With the second quarter 2024 approval, Tether has once again demonstrated its unwavering commitment to transparency, stability, liquidity and responsible risk management. As seen in this latest report, Tether continues to break records with a new profit benchmark of $ 5.2 billion in the first half of 2024. “With Tether Group's equity capital reaching $11.9 billion, Tether has achieved an impressive and unique financial strength that allows it to continue to lead the stablecoin industry in stability and liquidity, while bringing its expertise in different areas such as Artificial Intelligence, Biotechnology and Telecommunications.”

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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