Tether Becomes 18th Largest U.S. Treasury Holder with $97.6B

• Tether’s Q2 2024 audit shows $118.4 billion in reserves, surpassing liabilities by $5.3 billion.
• With $97.6 billion in U.S. Treasury, Tether ranks as the 18th largest holder worldwide.

Tether’s most recent audit report for Q2 2024 highlights the company’s remarkable financial growth and stability. According to the report, Tether’s reserves total $118.4 billion, which exceeds its liabilities by $5.3 billion. This substantial reserve base strengthens the company’s position in the stablecoin market.

Most notably, $97.6 billion of these reserves are invested in US Treasury, making Tether the 18th largest holder of US Treasury globally. This ranking puts Tether ahead of large economies, including Germany and Australia, demonstrating the company’s strong presence in global financial markets.

Tether Strategic Collaborations and Impressive Profit Growth 

The paper also highlights Tether’s extensive network of collaborations with institutions around the world. The company presently works with 180 institutions in 45 jurisdictions. These collaborations have been useful in countering illicit financial activities.

One major outcome of these agreements was the freezing of over 1,850 wallets linked to illegal operations, resulting in the recovery of more than $113 million in assets.

This indicates Tether’s proactive approach to ensuring a secure and compliant environment, which strengthens its confidence in the broader financial ecosystem.

Tether’s profitability continues to exceed forecasts. Last year, as we previously noted, the company made a staggering $6.2 billion profit. The majority of this profit came from investments in U.S. Treasury bonds, which have proven to be a safe and profitable alternative in today’s high-interest rate climate.

These returns from low-risk investments demonstrate Tether’s good financial management and ability to traverse an ever-changing market landscape, confirming its position as a stablecoin industry leader.

On the other hand, according to CNF, Tether has also been active in strengthening its anti-crime measures through partnerships with various entities. One such example is the establishment of the T3 Financial Crimes Unit (T3 FCU), which combines TRM Labs’ anti-financial crime expertise with Tron’s technology and Tether’s investigation capabilities.

As part of its efforts, T3 FCU has successfully collaborated with law enforcement authorities to freeze over $12 million in USDT connected to illegal activity prior to its official launch.