Tether Net Income Soars to $5.2 Billion in First Half of 2024

IconCryptoNewsTerminal Staff31 Jul, 2024

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Tether Net Income Soars to $5.2 Billion in First Half of 2024

Tether, the issuer of the world’s largest stablecoin USDT, has announced record financial results for the first half of 2024. According to the company's official Twitter account, Tether generated an impressive $5.2 billion in net income during the period. In addition to its strong net income performance, Tether also reported significant growth in its sovereign debt portfolio and consolidated equity. As of June 30, 2024, Tether's sovereign debt portfolio had reached its largest ever size, and its consolidated equity stood at $12 billion. Tether's latest financial results highlight the company's continued growth and profitability. The company's stablecoin, USDT, remains the world's most popular and widely used, and its strong financial performance is a testament to its leadership in the cryptocurrency market.

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