Tether International Ltd., the holding company behind USDT’s biggest Stablecoin, recorded a second quarter net income of $4.9 billion.
According to the latest certification from accounting firm BDO, USDT token holds more than $162.5 billion in reserves against $1571.1 billion in debt. This will bring the extra reserves to $5.4 billion.
US exposure, including direct holdings and products such as money market funds and overnight reverse shopping agreements, rose above $127 billion as it issued more than $13 billion in USDT in the quarter.
The company said it had booked $3.1 billion in repeated profits from the start of the year, plus $2.6 billion in gold and Bitcoin donations to the market.
Prices rise. The company holds approximately $8.9 billion in BTC in its reserves, and as of June 30th, it has translated into over 83,200 tokens.
Tether is beginning to pay revenues on investments spanning artificial intelligence, renewable energy and digital communications, and the US-based initiative has received around $4 billion so far, the company said.
Those figures include the development of XXI Capital, the Bitcoin finance company that has been published through the merger with Cantor Fitzgerald-backed Shell Company (CEP), investments in video sharing platforms, and the company’s crypto wallet offering.
The report has signed the Genius Act to regulate the sector as Stablecoins are rapidly integrated into a wider range of financial plumbing.
Earlier this month, CEO Paolo Ardoino said in an interview with Coindesk that his company will comply with the new law and will issue an offshore version of Stablecoin.
Read more: Tether-focused blockchain Stable raises $28 million for Stablecoin payments
