{"id":35243,"date":"2024-08-01T08:40:22","date_gmt":"2024-08-01T08:40:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-achieves-record-5-2-billion-net-profit-in-h1-2024\/"},"modified":"2024-08-01T08:40:22","modified_gmt":"2024-08-01T08:40:22","slug":"tether-achieves-record-5-2-billion-net-profit-in-h1-2024","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-achieves-record-5-2-billion-net-profit-in-h1-2024\/","title":{"rendered":"Tether Achieves Record $5.2 Billion Net Profit in H1 2024"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Tether, the issuer of USDT, announced an impressive net profit of $1.3 billion for Q2 2024, adding to the $4.5 billion earned in Q1, marking a new financial milestone for the company.<\/p>\n

Tether\u2019s second quarterly attestation revealed a total net profit of $5.2 billion for the first half of 2024. BDO, an independent accounting firm, provided assurance opinions that highlighted the significant role of yield-bearing investments like U.S. Treasuries and reserves in driving these profits. Additionally, Tether has strategically diversified its investments into Bitcoin mining,<\/a> peer-to-peer texting provider Keet, and decentralized AI data centers.<\/p>\n

To boost transparency and trust, Tether enlisted BDO to verify its operations. Despite these efforts, some skeptics argue that BDO\u2019s attestations do not fully replace comprehensive reserve audits. This skepticism traces back to a settlement with the New York Attorney General, where Tether agreed to provide regular financial reports after being accused of misleading the public about USDT\u2019s reserves and underlying assets.<\/p>\n

Navigating Challenges and Regulatory Landscape<\/h2>\n

USDT continues to dominate the stablecoin market with a market cap of $114 billion, significantly surpassing competitors like Circle\u2019s USD Coin. Tether\u2019s focus on emerging markets in Central and Southern America has strengthened its position. However, the regulatory environment in Europe and North America poses new challenges.<\/p>\n

The European Union\u2019s Markets in Crypto Assets (MiCA) framework and impending U.S. stablecoin regulations could reshape market dynamics. Circle, a key competitor, has already obtained a stablecoin provider license in Europe and plans to go public in the U.S., aiming to be the first stablecoin issuer listed on American soil.<\/p>\n

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250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n

New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

As Tether navigates these regulatory hurdles, its strong profit growth and strategic investments will be crucial in maintaining its leadership in the stablecoin market.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Tether, the issuer of USDT, announced an impressive net profit of $1.3 billion for Q2 2024, adding to the $4.5 billion earned in Q1, marking a new financial milestone for the company. Tether\u2019s second quarterly attestation revealed a total net profit of $5.2 billion for the […]<\/p>\n","protected":false},"author":35,"featured_media":35244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35243"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35243"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35244"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}