Tether Nets $5B Profits This Year, Says Its US Debt Holdings Surpassed Germany's

Stablecoin issuer Tether reported a 'record' $5.2 billion of net profits in H1 2024, with USDT market cap hitting all-time highs.

Tether's US debt holdings totaled $97.6 billion, ranking 18th globally, surpassing countries like Germany, UAE, and Australia.

Tether Investments division has a $6.2 billion net equity value for managing Bitcoin mining and AI investments, per attestation.

Tether's USDT is crucial in crypto markets and increasingly utilized in developing nations for U.S. dollar access, with a $114 billion market value.

Read at Coindesk