Recently, the company behind USDT has displayed its commitment to transparency by sharing its net assets. The report for the first quarter of 2024 indicates Tether's focus on careful risk management. Tether, the creator of the USDT stablecoin, has unveiled its Q1 findings for 2024. The most recent report goes beyond just the reserves supporting the stablecoins as it highlights the entire financial strength of Tether Group as of March 31, 2024.

Q1 of 2024 marked a significant turning point for Tether Group, with a remarkable net profit of $4.52 billion. The bulk of this profit came from operational earnings in US Treasury holdings and gains from Bitcoin and Gold positions.

Tether's Success Continues

In the first three months of 2024, Tether Group saw unmatched success as it increased its direct and indirect ownership of U.S. Treasuries, surpassing $90 billion in total. This included not only direct ownership but also investments through money market funds and overnight reverse-repurchase agreements.

The net equity of Tether, standing at $11.37 billion as of March 31, 2024, was disclosed which demonstrates the company's commitment to transparency. CEO Paolo Ardoino emphasized Tether's focus on prudent risk management, stability, transparency, and liquidity in this first report of 2024.

Tether's stablecoins are backed by 90% Cash and Cash Equivalents guaranteeing liquidity in the stablecoin ecosystem. With over $12.5 billion in USDT issued in the first quarter alone, Tether's leading position in the stablecoin sector is further solidified.