Tether Reports $4.9 Billion Net Profit in Q2 and $4 Billion Investments
Tether International Ltd. reported a second-quarter net profit of $4.9 billion. Key financials include:
- Reserves exceeded $162.5 billion against liabilities of $157.1 billion, yielding excess reserves of $5.4 billion.
- Exposure to U.S. Treasuries surpassed $127 billion after issuing over $13 billion in USDT during the quarter.
- Year-to-date recurrent profits reached $3.1 billion, and mark-to-market contributions from gold and bitcoin price appreciation amounted to $2.6 billion.
- Tether holds approximately $8.9 billion in bitcoin, equating to over 83,200 tokens as of June 30.
- The firm has invested around $4 billion into initiatives in artificial intelligence, renewable energy, and digital communications.
Tether is also adapting to regulatory changes following the signing of the GENIUS Act in the U.S., indicating plans to issue an on-shore version of its stablecoin.