Tether Q1 2024 Financials SoarDigging into the numbers, the first quarter of 2024 proved highly profitable for Tether, with a net profit of $4.52 billion. The main contributors, the entities responsible for issuing stablecoins and managing reserves, reportedly generated approximately $1 billion of this profit from net operating gains, primarily from US Treasury holdings. The report also highlighted Tether’s success in increasing its direct and indirect holdings of US Treasuries to over $90 billion. The report also highlighted a $1 billion increase in excess reserves, which support the company’s stablecoin offerings, bringing the total to nearly $6.3 billion. Ardoino highlighted Tether’s record-breaking profit benchmark of $4.52 billion and the company’s efforts to increase transparency and trust within the cryptocurrency industry.

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