2024

Equity

Notable

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/tether-achieves-notable-financial-success-in-early-2024/" data-wpel-link="internal">Tether Achieves Notable Financial Success in Early 2024</a><br></p>
<p style="text-align: justify">The issuer of the world’s largest stablecoin, <a href="https://coin-turk.com/stablecoinler-kripto-piyasalarinda-cokusu-baslatabilir-patlamaya-hazir-bomba" data-wpel-link="internal"><strong>Tether</strong></a>, achieved significant financial success in the first quarter of 2024. <a href="https://en.coin-turk.com/impending-shift-in-the-crypto-market-banks-poised-to-challenge-tethers-dominance/" data-wpel-link="internal">Tether</a> announced that it made a record net profit of $4.52 billion during this period, indicating strong financial growth and solidifying its powerful position in the cryptocurrency world.</p> 
<h2 style="text-align: justify" id="strong-net-equity-of-11-37-billion-strong"><strong>Net Equity of $11.37 Billion</strong></h2> 
<p style="text-align: justify">Tether disclosed that its net equity stood at $11.37 billion as of March 31, marking a substantial increase from $7.01 billion recorded at the end of December 2023. This figure was confirmed in the audit report for the first quarter of 2024.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-346685" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoin-Tether-USDT.png" alt="" width="757" height="591"></p> 
<p style="text-align: justify">Furthermore, the company indicated that its high net profit came from various sources. Approximately $1 billion of the profit was attributed to operational gains from diversified investment strategies and assets held in U.S. Treasuries. A significant portion of $3.52 billion was attributed to market-to-market gains from positions in <strong><a href="https://coin-turk.com/bu-hafta-2-gelismeyi-izleyin-bitcoin-ve-kripto-paralarin-yonu-bunlara-bagli" data-wpel-link="internal">Bitcoin</a></strong> and <strong>gold</strong>.</p> 
<p style="text-align: justify">As a major player in the stablecoin market, Tether’s <a href="https://en.coin-turk.com/impending-shift-in-the-crypto-market-banks-poised-to-challenge-tethers-dominance/" data-wpel-link="internal">USDT</a> holds a significant presence with a market value exceeding $110 billion according to the cryptocurrency data and price platform CoinMarketCap. Additionally, the issuance of $12.5 billion worth of USDT in the first quarter further strengthened Tether’s position in the cryptocurrency market.</p> 
<h2 style="text-align: justify" id="strong-reserve-surplus-reaches-6-3-billion-strong"><strong>Reserve Surplus Reaches $6.3 Billion</strong></h2> 
<p style="text-align: justify">Tether’s commitment to financial stability is evidenced by the prudent management of excess reserves. The report shows a notable increase of $1 billion in the reserve surplus, which serves as a protective buffer to maintain the integrity of its stablecoin products. Consequently, Tether’s reserve surplus reaching $6.3 billion demonstrates the company’s strategic approach in risk management.</p> 
<p style="text-align: justify">Moreover, the company’s disclosure of liabilities exceeding $104 billion related to “issued cryptocurrencies” is a result of its commitment to transparency and accountability. More importantly, the value of Tether’s reserve assets exceeding its liabilities by over $6.2 billion highlights the company’s strong financial position and its ability to meet its obligations.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/tether-achieves-notable-financial-success-in-early-2024/" data-wpel-link="internal">Tether Achieves Notable Financial Success in Early 2024</a></h5>

Tether Achieves Notable Financial Success in Early 2024

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