USDT Stablecoin issuer Tether Holdings Ltd has released its attestation report for the second quarter (Q2) of this year. Beyond maintaining its dominance for the quarter, the firm said it has grown its profit base significantly. Unlike anything it has recorded before, the USDT issuer said its profit hit $5.2 billion in the first half of the year.

The Tether (USDT) Milestone

Tether has maintained its stance as the first and most adopted stablecoin in the market. Beyond the impressive profit figures, the firm said it became the largest US Treasury Bill holder in the quarter. It is worth noting that BDO, a leading global independent accounting firm conducted the assurance attestation. This has given Tether a solid trust level in its balance sheet.

At a time when interest rate policies are uncertain, Tether has showcased its sustainable model to maintain its profit margin.

This is a breaking story, please check back for updates!!!

The post Just-In: USDT Issuer Tether Reports $5.2 Bln Profit appeared first on CoinGape.

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Filed under: News - @ July 31, 2024 4:18 pm