In its report released on Tuesday, Tether Holdings Limited confirmed its first quarter 2024 earnings amounted to a remarkable $4.52 billion.
The company's net equity reached a whopping $11.3 billion.
These impressive figures were driven primarily by profits from its stablecoin issuance and management activities, as well as gains from its investments in US Treasuries, Bitcoin and gold. Of the $1 billion in profits, most of it came from the US Treasury and the rest from other investments.
The statement also revealed that Tether has a total ownership of more than $90 billion in US Treasuries.