Stablecoin issuer Tether has released its first-quarter audit report signed by accounting firm BDO. In Q1 2024, Tether achieved a record-breaking profit of $4.52 billion, with approximately $1 billion of the profit coming from holdings of US Treasury bonds, and the remaining portion consisting of returns valued by market capitalization from Bitcoin and gold positions.
Tether Sets Record-breaking Profit of $4.52 Billion in Q1, Bitcoin Appreciation Plays Key Role