Tether's attestation for the first quarter of 2024 revealed the firm made a net profit of $4.52 billion, saw its highest-ever percentage ownership of Treasury bills and had total net equity exceeding $11.3 billion.

On Tuesday, Tether Holdings Limited released its assurance opinion for the first quarter of 2024, which detailed $1 billion in profit from the group's entities in charge of issuing stablecoins and managing their respective reserves. According to Wednesday's attestation, most of this profit was primarily derived from its U.S. Treasury holdings, with the remainder coming from gains in bitcoin and gold positions.

Tether's U.S. Treasury holdings

Wednesday's attestation highlighted the firm's direct and indirect ownership of U.S. Treasurys, which is now cited as exceeding $90 …