United

Equity

Bitcoin

Dogecoin

Time

<a href="https://bitcoinworld.co.in/tether-holdings-reports-record-setting-4-52b-profit-in-q1-2024-discloses-net-equity-for-the-first-time/" title="Tether Holdings Reports Record-Setting $4.52B Profit in Q1 2024, Discloses Net Equity for the First Time" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Tether Holdings, the issuer of the leading stablecoin by market capitalization, Tether (USDT), has <a href="https://tether.io/news/tether-releases-q1-2024-attestation-reports-record-breaking-4-52-billion-profit-highest-treasury-bill-ownership-percentage-ever-total-group-equity-of-11-37-billion/" rel="noopener noreferrer nofollow">announced</a> a record-breaking net profit of $4.52B in the first quarter (Q1) of 2024.</li>
</ul>
<h3 id="span-style-font-weight-400-tether-holdings-reports-record-setting-4-52b-profit-in-q1-2024-discloses-net-equity-for-the-first-time-span">Tether Holdings Reports Record-Setting $4.52B Profit in Q1 2024, Discloses Net Equity for the First Time</h3>
Tether Holdings, the issuer of the leading stablecoin by market capitalization, Tether (USDT), has announced a record-breaking net profit of $4.52 billion in the first quarter of 2024.&nbsp;
In addition, Tether disclosed its net equity for the first time, revealing a substantial increase from $7.01 billion at the end of December 2023 to $11.37 billion as of March 31.&nbsp;
Tether’s attestation report for Q1 2024 attributed approximately $1 billion of operating profits to its holdings in the United States Treasury, while the remaining $3.52 billion came from market-to-market gains in Bitcoin and gold positions.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/dogecoin-loses-20-in-7-days-but-can-this-group-turn-things-around/" aria-label="“Dogecoin Loses 20% In 7 Days, But Can This Group Turn Things Around?” (Edit)" rel="noopener noreferrer nofollow">Dogecoin Loses 20% In 7 Days, But Can This Group Turn Things Around?</a>
Tether’s USDT is recognized as the largest stablecoin globally, with a market value exceeding $110 billion, according to CoinMarketCap. In the first quarter of 2024 alone, the company issued $12.5 billion worth of USDT.
The report also highlighted a $1 billion increase in excess reserves, which serve as a buffer to support Tether’s stablecoin offerings. The company’s excess reserves now stand just below $6.3 billion.&nbsp;
Regarding liabilities, Tether’s report revealed over $104 billion tied to “digital tokens issued.” However, the value of the company’s reserve assets exceeded its liabilities by more than $6.2 billion as of March 31.
Tether remains a prominent holder of Bitcoin, with its “bc1q” wallet currently holding 75,354 BTC, worth over $4.38 billion. This makes Tether the seventh-largest Bitcoin holder.&nbsp;
Notably, on March 31, Tether acquired 8,888 Bitcoin valued at $626 million from Bitfinex. Despite Bitcoin experiencing a drop below the $60,000 mark, Tether has accumulated an unrealized profit of over 91%, surpassing $2 billion.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/tether-holdings-reports-record-setting-4-52b-profit-in-q1-2024-discloses-net-equity-for-the-first-time/" rel="noopener noreferrer nofollow">Tether Holdings Reports Record-Setting $4.52B Profit in Q1 2024, Discloses Net Equity for the First Time</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Tether Holdings Reports Record-Setting $4.52B Profit in Q1 2024, Discloses Net Equity for the First Time

Table of Contents

ItsBitcoinWorld

Other articles published on May 3, 2024

How Are Altcoins Performing Today?

Solana takes on Ethereum as ‘DEX war’ takes new turn

Post-Halving Bitcoin Surge: A Shattered Dream?

Shibarium Completes Hard Fork Promising Blazing Fast Transactions: Price Impact

CZ sentenced and SBF’s deal: April’s crypto crime round-up

Important Alert from Shytoshi Kusama to SHIB Coin Holders: Key Updates for the SHIB Community

Join our free newsletter for daily crypto updates!