Tether reports $5.2 billion profit in H1

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This Week In Crypto

31 Jul 2024

Tether reports $5.2 billion profit in H1

Tether books a whopping $5.2 billion in profit while a high interest rate environment holds (for now), but that's not all that happened this week!

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Tether reports $5.2 billion profit in H1

Stablecoin issuer Tether starts the year strong, reporting $5.2b profit for H1. The Fed leaves rates unchanged while the Bank of England cuts. Mt. Gox keeps distributing, and ETHE weighs down ETH ETFs. In Trending Topics, Trump doubles down on crypto, and crypto losses due to hacks/scams reach over $1b year-to-date