Stablecoin Issuer Tether Pauses Bitcoin Purchase Amidst $1.3 Billion Profit in Q2 2024

Tether, a prominent stablecoin issuer, disclosed a pause in Bitcoin acquisitions despite achieving a record $1.3 billion net operating profit for Q2 2024. The financial assurance, audited by BDO, a top global accounting firm, marked this shift. Contrary to its usual buying pattern, Tether maintained its Bitcoin reserves at the previous quarter’s levels. Tether Records All-Time High... source: https://beincrypto.com/tether-halts-bitcoin-purchase-q2-profit/