In This Post:
- Tether’s profits reach $1 billion per month.
- US Treasury investments strengthen Tether’s finances.
- Tether reinvests profits to enhance its ecosystem.
Tether, the company behind the USDT digital dollar, reported big gains for the first half of 2024. Tether made a profit of $1.3 billion in the second quarter. This adds up to over $5 billion in six months. Tether is earning about $1 billion each month.
Tether’s Smart Investment in US Treasuries
Tether’s success comes from its smart choice to invest in US Treasury Bills (T-Bills). In 2022, Tether replaced commercial paper with T-Bills. This choice has worked out well. A report checked by BDO shows Tether’s holdings in T-Bills grew to over $97.6 billion in the second quarter. This makes Tether the 18th largest holder of US debt. Tether is also the 3rd largest buyer of 3-month T-Bills after the UK and the Cayman Islands.
Strong Finances and Reinvestment
Even with changes in Bitcoin prices, Tether’s value increased by $520 million in the second quarter. Tether’s total reserves for its digital dollars reached $118 billion by June 30, 2024. This is $5.3 billion more than its debt. Tether plans to reinvest some profits into projects to help its community grow. These projects include green energy, Bitcoin mining, artificial intelligence, communication technology, brain technology, and education.
Bright Future and Clear Vision
Tether’s CEO, Paolo Ardoino, celebrated Tether’s growth and success. He said that Tether has reached amazing new levels. Being a private company helps Tether focus on what truly matters. Ardoino called Tether a “Once-In-One-Hundred-Year Opportunity.”
In conclusion, Tether’s investment in T-Bills has greatly boosted its financial health and growth. Tether’s strong profits and smart reinvestments show its commitment to building a strong and innovative community. With a solid financial base and a clear vision, Tether is set to keep growing in the digital currency world.
