Tether Reports $5.2 Billion Profit, Questions Arise Over Bitcoin Holdings
Tether Holdings Limited, the company behind the world's largest stablecoin USDT, has reported a profit of $5.2 billion for the first half of 2024, according to its latest quarterly attestation report. That’s record profit for Tether, according to the company, which claims to hold reserves for its tokens totaling $118.4 billion, with liabilities at $113.1 billion. And despite what appears to be a discrepancy in its reported Bitcoin holdings, the results of its attestation—provided by global acco...