Tether Reports $4.9B Net Profit in Q2, Invested $4B in U.S. Initiatives
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Tether International Ltd., the holding company behind the largest stablecoin, USDT, posted second-quarter net profit of $4.9 billion . The company held over $162.5 billion in reserves against $157.1 billion in liabilities, the USDT tokens issued, according to the latest attestation by accounting firm BDO. That puts excess reserves at $5.4 billion. Exposure to U.S. Treasuries, including direct holdings and instruments like money market funds and overnight reverse repurchase agreements, rose past ...
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