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<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.
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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

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