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Tether Holdings Reports Record $4.52 Billion Net Profit in Q1 2024 for USDT Stablecoin
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Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company.
According to the report , the substantial profit was primarily attributed to the firm’s financial gains on Bitcoin and gold, totalling $3.52 billion, and an additional $1 billion from operating profits.
My summary Tether's Q1/2024 attestation. Another great quarter!
As of 31st March 2024:
– $4.52 Billion Profit for Q1/2024. ~1 billion in net operating profits, primarily derived from US T-Bills. The remainder derived from mark-to-market gains in Bitcoin and Gold positions.
-… https://t.co/kCBYQw9JGx
— Paolo Ardoino
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