Tether Holdings LTD, the largest stablecoin issuer in the world, reported it made record profits in the first half of the year.
Tether reported net profit of $5.2 billion over H1 2024, a 57% increase from income in the same period last year, according to its Q2 assurance opinion.
The audit was led by BDO Global, and also drew attention to Tether’s reserves coming in at an all-time high of $97.6 billion in total U.S. Treasuries. Tether’s U.S. Treasury exposure now surpasses national economies such as Germany, Australia, and the U.A.E.
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#undefined [Source: TheDefiant]