Tether Reports Record $13 Billion in Profits for 2024
Tether Holdings Limited has solidified its dominance in the stablecoin market, reporting significant results for Q4 2024. Key points include:
- Net yearly profits exceeded $13 billion.
- Group equity surpassed $20 billion.
- Record holdings in US Treasuries reached $113 billion.
- Reserve buffer increased by 36% to over $7 billion.
- Issued over $23 billion in USDT during Q4, totaling $45 billion for 2024.
- Generated approximately $5 billion in unrealized profits from gold and Bitcoin investments.
- Additional income of $7 billion from treasuries and repo agreements.
- Faced a 1% decline in market cap due to EU’s MiCA regulations.
Tether obtained a stablecoin issuer and Digital Asset Service Provider license in El Salvador, marking a strategic expansion. This move aims to enhance financial inclusion and innovation globally. Tether is also diversifying into industries such as renewable energy, AI, telecommunications, and education.