According to PANews, Tether Holdings Limited has released its Q2 2024 attestation report, conducted by independent accounting firm BDO. The report provides a detailed classification of assets held as token reserves and key consolidated financial data as of June 30, 2024, including group equity. Tether achieved a net operating profit of $1.3 billion in Q2 2024, marking its best performance to date, with a record net profit of $5.2 billion for the first half of the year.
In Q2 2024, Tether's direct and indirect holdings of U.S. Treasury bonds exceeded $97.6 billion, setting a new record. This positions Tether's exposure to U.S. Treasuries higher than that of Germany, the United Arab Emirates, and Australia, ranking it 18th among countries holding U.S. debt. Despite a decrease in Bitcoin prices, which accounted for an unrealized loss of $653 million, the group's equity increased by $520 million, partially offset by the positive performance of gold, which contributed an unrealized gain of $165 million. The group's consolidated net assets reached $11.9 billion as of June 30, 2024, with USDt issuance surpassing $8.3 billion in Q2.
As of June 30, 2024, the total reserves for circulating Tether tokens amounted to $118,436,336,293. The total liabilities of the company issuing Tether tokens stood at $113,101,998,938, with $112,395,445,973 related to issued digital tokens. The value of assets constituting the reserves exceeded the liabilities of the company issuing Tether tokens by $5,334,337,355. The group has not considered using part of its reserves supporting issued tokens for sustainable energy, Bitcoin mining, data, artificial intelligence infrastructure, P2P telecommunication technology, neural technology, education, and other long-term proprietary investments.