{"id":13128,"date":"2024-05-01T17:06:36","date_gmt":"2024-05-01T14:06:36","guid":{"rendered":"https:\/\/forklog.com\/en\/tethers-q1-net-profit-reaches-a-record-4-5-billion\/"},"modified":"2024-05-01T17:06:36","modified_gmt":"2024-05-01T14:06:36","slug":"tethers-q1-net-profit-reaches-a-record-4-5-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tethers-q1-net-profit-reaches-a-record-4-5-billion\/","title":{"rendered":"Tether&#8217;s Q1 Net Profit Reaches a Record $4.5 Billion"},"content":{"rendered":"<p>The company behind the USDT stablecoin, Tether, reported a record net profit of <a href=\"https:\/\/tether.io\/news\/tether-releases-q1-2024-attestation-reports-record-breaking-4-52-billion-profit-highest-treasury-bill-ownership-percentage-ever-total-group-equity-of-11-37-billion\/\">$4.52 billion<\/a> for the January-March period.<\/p>\n<p>According to the report, the issuer earned approximately $1 billion from operating profit, primarily as interest income from U.S. Treasury bills.<\/p>\n<p>Direct investments in these instruments exceeded $74.2 billion, with a total of $92.7 billion when including cash and equivalents, indirectly through <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A1%D0%B4%D0%B5%D0%BB%D0%BA%D0%B0_%D0%A0%D0%95%D0%9F%D0%9E\">REPO transactions<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1017.webp\" alt=\"1-1017\" class=\"wp-image-231901\"\/><figcaption class=\"wp-element-caption\">Data: Tether.<\/figcaption><\/figure>\n<p>The remaining net profit of approximately $3.5 billion came from the appreciation of positions in Bitcoin ($3.65 billion) and gold ($5.7 billion).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-782.webp\" alt=\"2-782\" class=\"wp-image-231902\"\/><figcaption class=\"wp-element-caption\">Data: Tether.<\/figcaption><\/figure>\n<p>Tether&#8217;s equity increased to $11.37 billion. As of December 31, the figure <a href=\"https:\/\/forklog.com\/en\/news\/tethers-q4-net-profit-reaches-2-9-billion\">stood at $7.01 billion<\/a>. The level of excess reserves rose by $1 billion, reaching $6.26 billion.<\/p>\n<p>The volume of USDT issued in the first quarter increased by $12.5 billion, reaching $110.3 billion. Auditor BDO confirmed that 90% of the tokens are backed by cash and equivalents.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-454.webp\" alt=\"3-454\" class=\"wp-image-231903\"\/><figcaption class=\"wp-element-caption\">Data: Tether.<\/figcaption><\/figure>\n<p>Tether highlighted its strategic investments in AI infrastructure, <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9E%D0%B4%D0%BD%D0%BE%D1%80%D0%B0%D0%BD%D0%B3%D0%BE%D0%B2%D0%B0%D1%8F_%D1%81%D0%B5%D1%82%D1%8C\">P2P communications<\/a>, as well as renewable energy and mining.<\/p>\n<p>The total amount exceeded $5 billion. The company did not disclose details but emphasized that these also support token issuance.<\/p>\n<p>USDC recently surpassed the segment leader, Tether&#8217;s USDT, in monthly transactions, according to <a href=\"https:\/\/forklog.com\/en\/news\/usdc-surpasses-usdt-in-monthly-transactions\">Visa&#8217;s calculations<\/a>.<\/p>\n<p>Earlier, Bernstein analysts predicted that the market value of stablecoins would grow to $2.8 trillion over the next five years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company behind the USDT stablecoin, Tether, reported a record net profit of $4.52 billion for the January-March period. According to the report, the issuer earned approximately $1 billion from operating profit, primarily as interest income from U.S. Treasury bills. Direct investments in these instruments exceeded $74.2 billion, with a total of $92.7 billion when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1252,807,1245],"class_list":["post-13128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-reports","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"53","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13128"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13127"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}