Tether International Ltd., the company has behind the largest stablcoin, USDT, recorded a net profit of the second quarter of $ 4.9 billion.
The company had more than $ 162.5 billion in reservations against $ 157.1 billion in liabilities, USDT tokens issued, according to the last certificate of the BDO accounting firm. That puts reservations at $ 5.4 billion.
Exposure to the United States Treasury Bonds, including direct holdings and instruments such as monetary market funds and reverse repurchase agreements during the night, increased more than $ 127 billion, since it issued more than $ 13 billion USDT in the quarter.
The company said it booked annual recurring profits of $ 3.1 billion, and another $ 2.6 billion in contributions from Mark-To Market of Gold and Bitcoin (BTC) appreciation of prices. The firm had approximately $ 8.9 billion in BTC in reservations, translating more than 83,200 tokens as of June 30, according to certification.
Tether has begun to channel the profits to investments that cover artificial intelligence, renewable energy and digital communications, with initiatives based in the United States that receive around $ 4 billion to date, the firm said.
That figure includes XXI Capital, the Bitcoin Treasury firm that is about to make public merging with a Shell company backed by Cantor Fitzgerald (CEP), the investment in the Rumble Video Exchange Platform and the development of the supply of cryptographic wallet of the firm.
The report is produced as Stablecoins is quickly integrating into the broader financial plumbing, and the United States signed the Genius law in law to regulate the sector.
Earlier this month, CEO Paolo Ardoino said in an interview with Coindesk that his company will comply with the new laws and issue a land version of his stablecoin.
Read more: Stable blockchain centered on the deck raises $ 28 million to Power Stablecoin Payments
