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Tether's USDT Stablecoin Surges to $13B Profit, Treasury Portfolio Hits $113B

Coin WorldFriday, Jan 31, 2025 6:00 pm ET

1min read

Tether, the issuer of the dollar-pegged USDt (USDT) stablecoin, reported record-breaking profits of $13 billion in 2024, marking a significant milestone for the company. The company's US Treasury portfolio has also reached an all-time high of approximately $113 billion, reflecting the growing popularity of the USDT stablecoin.

The total market capitalization of USDT stood at roughly $137 billion as of Dec. 31, slightly less than Tether's total reserves, which exceeded $143 billion. The figures were independently verified by BDO, an accounting firm. Tether's consolidated net equity stands at $20 billion, with the company issuing around $23 billion in USDT in the fourth quarter of 2024 and $45 billion for the full year.

Tether's Treasury reserves now surpass the size of all but 17 of the world's governments, including Germany, the United Arab Emirates, and Australia. The company also holds gold and Bitcoin (BTC), which contributed to its $5 billion in profits in 2024. Tether has been reinvesting a portion of its profits in adjacent industries, including sustainable energy, Bitcoin mining, data, AI infrastructure, peer-to-peer telecommunications technology, neurotech, and education.

Despite USDT's market cap dominance declining to around 65% in 2024, it continues to dominate on centralized exchanges, with 82% of the market share. Rival USD Coin (USDC) has gained traction, with a market capitalization of approximately $52 billion as of Jan. 31. USDC dominates on Solana, comprising nearly 78% of stablecoin supply on the network.

Meanwhile, the prices of Ethereum (ETH), Crypto.com Coin (CRO), and Floki Inu (FLOKI) have been volatile in recent weeks. ETH has been trading in a range of $1,500 to $1,700, while CRO has been fluctuating between $0.07 and $0.09. FLOKI, on the other hand, has been trading in a range of $0.000015 to $0.000020.

The recent price movements of these cryptocurrencies can

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