Tether Holdings Limited, the issuer of the USDT stablecoin, has announced a record-breaking net profit of over $13 billion for 2024, according to its latest attestation report.
Tether Hits $13 Billion Profits for 2024 And All-Time Highs in U.S. Treasury Holdings, USD₮ Circulation, and Reserve Buffer in Q4 2024 Attestation
Read more: https://t.co/1CRfIK5XR0— Tether (@Tether_to) January 31, 2025
The report, released on January 31 and audited by international accounting firm BDO, confirms the company’s financial stability and growing dominance in the stablecoin market.
Tether’s equity surged past $20 billion in 2024, reflecting its continued success and diversified investments across sectors such as renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education.
A key highlight of the report is Tether’s significant holdings in U.S. Treasury securities, which now stand at a record $113 billion, solidifying the company’s position as one of the largest holders of U.S. government debt, emphasizing its focus on maintaining liquidity and financial stability. In addition, Tether expanded its reserve buffer by 36% over the past year, surpassing $7 billion for the first time.
The circulation of USDT saw substantial growth, with Tether issuing $23 billion in new tokens in the fourth quarter of 2024, bringing the total issuance for the year to $45 billion. This figure nearly matches the entire market capitalization of the second-largest stablecoin, further cementing USDT’s position as the world’s most widely used stablecoin.
Tether also achieved significant regulatory approval by obtaining a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, which now serves as the company’s headquarters.
Paolo Ardoino, CEO of Tether, emphasized the company’s leadership in stability, innovation, and financial inclusion.
“Tether continues to set the gold standard for stability and trust in the digital assets space. The Group Equity surpassed $20 billion. Our licensing milestone in El Salvador and investments in transformative sectors further highlight our unwavering commitment to driving financial inclusion and resilience.”
Additionally, Tether has expanded its offerings with the launch of Hadron, a new platform designed to facilitate the tokenization of real-world assets, including stocks, bonds, equities, loyalty points, and stablecoins. The platform aimed to extend tokenization beyond stablecoins, making it more accessible across various markets.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
