Tether International Ltd., Holding behind the largest stablecoin, USDT, has posted a net profit in the second quarter of $ 4.9 billion.
The company held more than $ 162.5 billion in reserves against $ 157.1 billion in liabilities, the USDT tokens issued, according to the last certificate from the BDO accounting firm. This puts surplus reserves at $ 5.4 billion.
Exposure to US treasury bills, including direct assets and instruments such as money market funds and reverse buyout agreements overnight, exceeded $ 127 billion because it issued more than $ 13 billion in the USDT during the quarter.
The company said it had reserved recurring benefits of the year at the start of the year of $ 3.1 billion and $ 2.6 billion in the marked contributions to the Golden and Bitcoin Price Appreciation Market (BTC). The company has held around $ 8.9 billion in BTC in reserves, resulting in more than 83,200 tokens on June 30, according to the certificate.
Tether began to channel profits to investments covering artificial intelligence, renewable energies and digital communications, initiatives based on the United States receiving around $ 4 billion to date, the company said.
This figure includes XXI Capital, Bitcoin Treasury Firm which is ready to become public by merging with a Shell company (CEP) supported by Cantor Fitzgerald, investment in the Rumble video sharing platform and the development of the company’s cryptographic portfolio offer.
The report comes while stablecoins are quickly integrated into broader financial plumbing, the United States signing law law in law to regulate the sector.
Earlier this month, CEO Paolo Ardoino declared in an interview with Coindesk that his business will comply with new laws and publish an land version of his stablecoin.
Read more: the blockchain focused on stable connection increases $ 28 million to supply stable payments
