Tether's net profit in the first quarter exceeded $4.5 billion, with total assets reaching $11.37 billion by the end of the first quarter

On May 1st, according to The Block, the financial report released by Tether Holdings Limited for the first quarter of 2024 shows a net profit of $4.52 billion USD, with most of the profit coming from its holdings in U.S. Treasury bonds and the rest from gains on Bitcoin and gold positions. Tether also disclosed for the first time that its total assets as of March 31 this year amounted to $11.37 billion USD.