2 months ago
Key Takeaways
- Tether's latest attestation reports $5.2 cardinal successful profits for nan first half of 2024 and an all-time precocious holding of $97.6 successful U.S. treasuries.
- Tether is 1 of nan largest holders of U.S. treasuries successful nan world.
- Tether issued much than $8 cardinal of its stablecoin successful nan 2nd quarter.
Tether Holdings, issuer of nan largest stablecoin by marketplace capitalization, connected Wednesday reported a $5.2 cardinal profit and a monolithic stash of U.S. Treasurys successful nan first half of nan twelvemonth successful its latest attestation report.
Tether issued complete $8.3 cardinal successful its stablecoin, USDt (USDTUSD), during nan 2nd quarter. Since it's a U.S. dollar-backed stablecoin, it needs to beryllium backed by rate aliases balanced reserves.
Tether reported an all-time precocious finance successful U.S. Treasurys astatine $97.6 cardinal via nonstop and indirect exposure. That would rank it among nan apical countries successful position of Treasury holdings.
Tether said that successful nan first half of nan year, it classed 3rd aft nan U.K. and Cayman Islands successful purchases of 3-month Treasurys and "sees nan imaginable of becoming 1st successful nan adjacent year."
The study indicates Tether holds $4.734 cardinal worthy of bitcoin (BTCUSD) and $5.3 cardinal successful excess reserves.
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