Stablecoin

Equity

Bitcoin

Meme AI

Billion

<div class="insidebitcoins">
 Stablecoin issuer Tether recorded a record net profit of $4.52 billion in the first quarter as gains from Bitcoin and gold surged.
 About $3.52 billion of the unrealized profit came from price gains on its holdings of Bitcoin and gold, while the additional $1 billion came from its US Treasury investments. It increased its ownership of Treasury bills to the highest level ever at $90 billion.
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Tether" data-lazy-src="https://cdn.thebittimes.com/images/2024/05/02/408d3a3f791aec60987fa080028d6dfa.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/02/408d3a3f791aec60987fa080028d6dfa.webp" alt="Tether">
 </noscript>
 <h2 id="span-style-font-weight-400-tether-reveals-its-net-equity-for-the-first-time-span">Tether Reveals Its Net Equity For The First Time</h2>
 Tether also revealed for the first time its net equity, which stood at $11.37 billion on March 31.&nbsp;
 “This reflects a notable uptick from the recorded equity of $7.01 billion on December 31, 2023,” it said in a statement.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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
 Read More:https://t.co/lzvEGK6nJS
 — Tether (@Tether_to) May 1, 2024
 </blockquote>
 
 Fiat-denominated stablecoins issued by the firm are currently backed by as much as 90% in cash and cash equivalents, according to the latest attestations.
 These attestations are part of the company’s efforts to be more transparent, and to address the uncertainty around the company’s reserves.&nbsp;
 “Tether once again demonstrates its commitment to transparency, openness and conservative risk management,” Tether CEO Paolo Ardoino said in a May 1 post&nbsp;on X.
 <h2 id="span-style-font-weight-400-sitting-on-a-massive-unrealized-profit-for-its-btc-position-span">Sitting On A Massive Unrealized Profit For Its BTC Position</h2>
 Tether is the seventh largest Bitcoin holder. Wallet “bc1q,” belonging to the company, currently holds 75,354 BTC that is worth over $4.34 billion, according to Arkham Intelligence. That is after Tether acquired 8,888 BTC with a value of $626 million from Bitfinex on Mar. 31.
 Despite Bitcoin’s more than 9% drop over the past week, Tether’s unrealized profit for on its holdings stand at about $2 billion, according to the CoinStats portfolio tracker.
 <h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
 <ul>
 <li style="font-weight: 400;">Upcoming Crypto Presales: Unlock Early Investment Opportunities!</li>
 <li style="font-weight: 400;">Bitcoin Plunges 8% To Below $60K As Crypto Markets Have Worst Month Since FTX Imploded In November 2022</li>
 <li style="font-weight: 400;">Meme AI Price Prediction: MEMEAI Drops 3% As This Chain-Hopping Dogecoin Derivative ICO Blasts Past $13 Million</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-hits-record-4-5-billion-profit-in-first-quarter-on-gains-from-bitcoin-and-gold-tbt87210.html">https://thebittimes.com/tether-hits-record-4-5-billion-profit-in-first-quarter-on-gains-from-bitcoin-and-gold-tbt87210.html</a>
</div>

Tether Hits Record $4.5 Billion Profit In First Quarter On Gains From Bitcoin And Gold

目录

TheBitTimes

发布于 2024年5月2日的其他文章

Shiba Inu Magazine’s 23rd Edition Is Out, Know All About Shibarium Hard Fork

Layer2 Platforms Experience Significant Growth in April 2024: Report

Humanode, a blockchain built with Polkadot SDK, becomes the most decentralized by Nakamoto Coeffi...

BlockDAG Network Adds 10 Payment Options for BDAG Coin Purchase

Dogecoin Bull Run Predicted By Analyst — Current 47% Price Correction 'Part Of Its Usual Behavior'

Top Memecoins To Buy Post US Fed Meeting

订阅我们免费的电子期刊，获取每日最新加密领域动态！