Tether, the issuer of the cryptocurrency market’s largest stablecoin USDT, has disclosed its financial results for Q1 2024. In an attestation signed by BDO, an independent accounting network, the company announced record-breaking profits of $4.52 billion, as part of its stablecoin-derived operations. Tether specified that $1 billion was obtained directly from operations including U.S. Treasuries, while the rest was obtained from the appreciation of the company’s investments in gold and bitcoin.

Also, the company reported its net equity balances for the first time, reaching over $11 billion. The equity level rose significantly from December when it registered only $7 billion. Paolo Ardoino, CEO of Tether, remarked on the importance of disclosing this new number to the wider cryptocurrency market.

Ardoino stated:

In reporting not just the composition of our reserves, but now the Group’s net equity of $11.37 billion, Tether is again raising the bar in the cryptocurrency industry in the realms of transparency and trust.

Tether’s attestation reports a direct and indirect exposure of over $90 billion to U.S. treasury bills, registered as cash and cash equivalents. This determines that the issued USDT is 90% backed by instruments with high liquidity, securing the quick redemption of these tokens. In Q1 2024, over $12.5 billion USDT were issued.

Tether’s expansion investments, which seek to diversify the company’s portfolio and activity into different industries, were valued at over $5 billion. These investments include funding artificial intelligence (AI), clean energy, and bitcoin mining initiatives.

Tether recently disclosed an investment of $200 million into Blackrock Neurotech, a company that produces Brain-Computer-Interfaces (BCI) to help people with neurological function losses.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。