Tether Records $5B Net Profits This Year, Its US Debt Holdings Surpass Germany, UAE, Australia

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Stablecoin issuer Tether reported Wednesday a record $5.2 billion of net profits in the first half of the year as the market cap of its flagship cryptocurrency (USDT) surged to new all-time highs. The company said it generated $1.3 billion of net operating profits over the second quarter of the year. Its U.S. debt holdings amounted to $97.6 billion, which would rank as the 18th among countries surpassing Germany, the United Arab Emirates, and Australia, the company said.