Tether, the leading stablecoin issuer, has released its Q2 2024 financial report, showcasing an impressive net operating profit of $1.3 billion. This substantial profitability is a clear indication of Tether's efficient operations and its ability to generate significant revenue from its core activities.

The company's strong financial performance is further highlighted by a $520 million increase in Tether's Group equity, bringing the total equity to $11.9 billion. A significant highlight of the Q2-2024 attestation is Tether's $5.33 billion in excess reserves, providing an additional financial cushion and security for its stablecoin, USDT.

Tether's investment in U.S. Treasuries has reached an all-time high of over $97.5 billion, marking an increase of approximately $7 billion from the previous quarter. This substantial holding in Treasuries not only underscores Tether's strategic asset allocation but also positions it prominently on the global stage.

Notably, Tether now ranks 18th among countries owning U.S. debt, surpassing notable nations such as Germany, the United Arab Emirates, and Australia. This achievement is particularly significant, especially during a time when other countries, including China, have been net sellers of U.S. Treasuries.

In addition to its impressive holdings in traditional financial instruments, Tether also maintains a considerable position in cryptocurrencies. As of June 30th, 2024, Tether's Group owned approximately 80,000 Bitcoins, demonstrating its diversified asset strategy and belief in the long-term potential of cryptocurrencies.