Tether's $13B Profit: Stablecoin Giant's Record Year

Tether, the issuer of the world's largest stablecoin, USDT, has reported a net profit of over $13 billion in 2024, setting a new financial record for the company. The financial report, independently verified by global accounting firm BDO, highlights Tether's robust financial position and transparent business operations.

Tether's U.S. Treasury bond holdings reached an all-time high of $113 billion in 2024, reflecting the company's commitment to market stability and liquidity. The issuance of USDT also saw significant growth, with a total of $45 billion worth of stablecoins issued throughout the year due to strong market demand.

Tether's financial reserves received official verification from BDO, demonstrating the company's commitment to maintaining a solid financial structure. The report also revealed that Tether's combined group equity surpassed $20 billion during the fourth quarter of 2024, reflecting the company's market dominance and expansion into new business areas.

Tether's investments in renewable energy, Bitcoin mining, AI operations, telecommunications, and educational initiatives further solidified the company's financial position. The company's unrealized profits from gold and Bitcoin investments amounted to $5 billion, while traditional investments and repo agreements generated $7 billion in earnings.

In a significant development, Tether established a headquarters in El Salvador and secured a stablecoin issuer and Digital Asset Service Provider (DASP) license. This move allows Tether to advance its financial inclusion goals and expand its global reach.

Paolo Ardoino, CEO of Tether, emphasized the company's commitment to preserving stability and transparency in the stablecoin market. Tether's dominance is underscored by its excellent token creation, substantial reserves, and directed investments, which have resulted in record-setting reserves. Looking ahead, Tether plans to expand its digital finance operations while maintaining strong trust and secure services for user safety.