Tether, the largest stablecoin issuer, revealed a $5.2 billion profit for the first half of 2024 in its Q2 attestation report.

Axar.az reports that verified by BDO, the report highlights a record $97.6 billion in U.S. Treasury holdings, making Tether the 18th largest holder of U.S. debt.
The company issued over $8.3 billion in new USDT tokens in Q2 and reported a $1.3 billion net operating profit. Despite a $653 million unrealized loss from Bitcoin fluctuations, Tether maintains $5.3 billion in excess reserves. CEO Paolo Ardoino hinted at future expansions into AI, biotech, and telecommunications.