Tether posts record $5.2bn first-half profit

On 31 July, Tether released its Q2 2024 Proof of Record H1 2024 Profit of $5.2bn and Net Operating Profit of $1.3bn. Q2 2024 saw a record high of over $97.6bn in direct and indirect holdings of U.S. Treasuries in the Token's Reserve. Tether ranks 18th in terms of countries that hold U.S. Treasuries. Tether ranks 18th among countries holding U.S. Treasuries, and third in purchases of 3-month U.S. Treasuries, behind the U.K. and the Cayman Islands.

Tether's consolidated net worth as of 30 June 2024 is $11.9 billion. A portion of Q2 profits were reinvested in strategic projects to support the ecosystem while maintaining significant excess reserves ($5.3bn), with more than $8.3bn of USDT issued during Q2.