Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Tether Reports Record $5.2 Billion in H1 2024, Reaches Highest Treasury Holdings
ADOPTION NEWS

Tether Reports Record $5.2 Billion in H1 2024, Reaches Highest Treasury Holdings

By Crypto FlexsJuly 31, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Tether Reports Record .2 Billion in H1 2024, Reaches Highest Treasury Holdings
Share
Facebook Twitter LinkedIn Pinterest Email

Jack Anderson
July 31, 2024 16:35

Tether’s Q2 2024 certification shows record profits of $5.2 billion in the first half of 2024, the largest Treasury holdings ever, and consolidated capital of nearly $12 billion.





Tether Holdings Limited has announced the Q2 2024 assurance opinion from leading global independent accounting firm BDO. According to Tether, this assurance reaffirms the accuracy of Tether’s Consolidated Financial Statements and Reserve Report (CFFRR) and provides a detailed analysis of the assets held as token reserves and key consolidated financial figures as of June 30, 2024.

Record financial performance

Building on the momentum from Q1 2024, Tether reported net operating income of $1.3 billion in Q2 2024, and a record net income of $5.2 billion in the first half. The company attributed this performance to a strong and consistent income base derived primarily from investments in traditional asset classes, namely U.S. Treasuries.

Unprecedented ownership of Treasury bonds

In Q2 2024, Tether achieved unprecedented levels of direct and indirect ownership of US Treasuries, surpassing $97.6 billion. This milestone puts Tether ahead of Germany, the UAE, and Australia in terms of US Treasury ownership. Tether is now the 18th largest holder of US Treasuries and the third largest buyer of 3-month US Treasuries, behind the UK and the Cayman Islands. Given the trajectory of USDt adoption, we expect Tether to become the largest holder within the next year.

Integrated equity and transparency

In Q2 2024, Tether’s Group Equity increased by $520 million, despite an unrealized loss of $653 million due to the decline in the BTC price. This was partially offset by the positive performance of gold, which contributed $165 million in unrealized gains. Tether’s consolidated net assets reached an impressive $11.9 billion as of June 30, 2024.

A portion of Q2 earnings were reinvested in strategic projects to support the ecosystem, and $5.3 billion in excess reserves were maintained to ensure token stability. Over $8.3 billion of USDt was issued during the period, reaffirming Tether’s strong financial position with consolidated assets exceeding consolidated liabilities.

Key Financial Indicators

As of June 30, 2024, the following key financial indicators were reported:

  • The reserve of Tether tokens in circulation reached $118,436,336,293.
  • The company that issued the Tether tokens had debt of $113,101,998,938, of which $112,395,445,973 was related to the digital tokens issued.
  • The value of the assets that make up the reserve fund was $5,334,337,355 more than the liabilities.
  • Investments in sustainable energy, Bitcoin mining, data, AI infrastructure, P2P communication technologies, neurotechnology, education and other long-term proprietary investments are not considered part of the reserves backing the issued tokens.

Paolo Ardoino, CEO of Tether, said: “With the Q2 2024 certification, Tether has once again demonstrated its unwavering commitment to transparency, stability, liquidity and responsible risk management. As this latest report demonstrates, Tether continues to break records, reaching a new profit benchmark of $5.2 billion in the first half of 2024. With the Tether Group’s own capital reaching $11.9 billion, Tether has achieved impressive and unrivaled financial strength, allowing it to continue to lead the stablecoin industry in stability and liquidity, while also leveraging its expertise in diverse areas such as artificial intelligence, biotech and telecommunications.”

Image source: Shutterstock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025

As the ETF rises, Bitcoin Eye Major Rally -but this can ruin the party.

June 6, 2025

Secure the Treasury in the BNB chain and launch VANECK

June 6, 2025

Use Sunny Mining Cloud Mining to earn $ 12,000 a day

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025
Most Popular

GBM Auctions, Polkadot Creator Dr. Host a memorabilia auction with Gavin Wood

May 6, 2024

Bitcoin analysts predict that BTC price will fall to $50,000 before going parabolic.

June 24, 2024

Ethereum price has entered the buy zone. Is there a revenge rally underway?

October 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.