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Tether’s Q1 2024 Report: Record $4.52 Billion Profits and Strategic Investments

The company also divulged its net equity figures for the period, surpassing $11 billion. This represents a substantial increase from the previous quarter, where net equity stood at $7 billion. Paolo Ardoino, Tether’s CEO, emphasized the significance of this disclosure within the cryptocurrency market. Tether’s attestation unveiled a direct and indirect exposure of over $90 billion to U.S. treasury bills, categorized as cash equivalents, underscoring the high liquidity of its assets and ensuring swift token redemption. During Q1 2024, Tether issued more than $12.5 billion USDT.

Moreover, Tether’s strategic expansion investments, totaling over $5 billion, aim to diversify its portfolio across various sectors, including artificial intelligence (AI), clean energy, and bitcoin mining endeavors. Notably, the company recently announced a $200 million investment in Blackrock Neurotech, a firm specializing in Brain-Computer-Interfaces (BCI) designed to assist individuals with neurological impairments.

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