Tether has reported a profit of $13 billion for 2024 amid diversified investments push.
By Godfrey Benjamin
Edited by Marco T. Lanz
Updated
3 mins read
USDT issuer Tether Holdings Limited has again proven its dominance in the stablecoin market with an extraordinary close to 2024. According to an official report, the financial company revealed its Q4 2024 assurance opinion, which was conducted by global accounting giant BDO.
The report confirmed the accuracy of Tether’s Consolidated Reserves Report (CRR) and provided a transparent overview of the assets backing its issued tokens. In the report, Tether disclosed that it saw unprecedented growth in profits, reserve buffer, and scores of major strategic investments across multiple industries.
These milestones show that Tether’s associated token, USDT $1.00 24h volatility: 0.0% Market cap: $143.46 B Vol. 24h: $42.51 B , is solidifying its place as the most widely used stablecoin and shaping the future of financial innovation.
2024 was a defining year for Tether, and Q4 was no exception. The company recorded net yearly profits exceeding $13 billion. In the same quarter, its group equity soared past $20 billion, reinforcing its position as a financial powerhouse.
A key highlight of Q4 was Tether’s expanding exposure to US Treasuries, reaching a record $113 billion in direct and indirect holdings. This positions Tether among the top global holders of the US Treasuries, emphasizing its commitment to liquidity and financial stability.
Tether’s financial strength was further underscored by a reserve buffer exceeding $7 billion, a 36% increase from the previous year. The company issued over $23 billion in USDT during Q4 alone, culminating in a total issuance of $45 billion for 2024.
This figure rivals the market cap of USD Coin USDC $1.00 24h volatility: 0.0% Market cap: $58.69 B Vol. 24h: $6.23 B , the second-largest stablecoin. This record highlights USDT’s dominance as a globally accepted stablecoin. Furthermore, Tether capitalized on its investments in gold and Bitcoin BTC $84 200 24h volatility: 2.7% Market cap: $1.67 T Vol. 24h: $28.79 B , generating about $5 billion in unrealized profits for 2024.
Additionally, its treasuries and repo agreements holdings contributed another $7 billion. Meanwhile, its other traditional investments added $1 billion, showcasing its diversified income streams.
Notably, digital assets firms, including Tether, have faced many delist threats from major exchanges amid compliance concerns. Coinspeaker reported earlier that USDT’s market cap experienced a sharp 1% decline following implementation of the EU’s Market in Crypto Assets (MiCA) regulations.
Tether International SA de C.V. secured a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, which was a major milestone. As highlighted by Coinspeaker, El Salvador will now serve as Tether’s new headquarters after finalizing the process of its DASP license.
This move would further strengthen the company’s mission to drive financial inclusion and innovation on a global scale. Beyond stablecoins, Tether is expanding into new industries. Reportedly, it has invested in Bitcoin mining renewable energy, AI, telecommunications, and education.
Notably, these proprietary investments are not included in the Tether reserves backing for USDT tokens. Tether’s record-breaking year affirms its dominance in the stablecoin market and sets the stage for continued growth and innovation in 2025.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
