🚀 Tether, the largest stablecoin issuer, is soaring high with a whopping $4.52B net profit in Q1 2024! 💰 A cool $1B came from the OG stablecoin and reserve management entities.

🔍 Tether's expansion beyond stablecoins into Tether Edu, Power, and Data is making waves. But the old-school Tether Finance is still leading the pack, contributing a billion to the profit pool.

📈 The rest of the Q1 profit? Thanks to mark-to-market gains in Bitcoin and Gold positions. Plus, Tether's U.S. Treasury holdings are now over $90B!

💡 CEO Paolo Ardoino is stoked about Tether's "financial strength and stability". The firm's net equity has jumped from $7.01B in Q4 2023 to $11.37B as of March 31.

🔄 Tether's stablecoin offerings saw a $1B increase in excess reserves, now backed by cash and equivalents at 90%. Oh, and they issued an extra $12.5B USDT last quarter.

🎉 Here's to Tether's record-breaking profit! What's your take on this? Let's chat below! 👇 #DeFi #Tether #CryptoNews