Tether, the issuer of the USDT stablecoin, reported record-breaking profits of $13 billion in 2024

Tether, the issuer of the USDT stablecoin, reported record-breaking profits of $13 billion in 2024. Their US Treasury holdings have reached an all-time high of approximately $113 billion

On Jan 31, 2025, Tether Holdings Limited has released its fourth-quarter attestation for 2024, conducted by global accounting firm BDO, confirming a landmark year for the company.

Tether reported more than $13 billion in net profits for 2024, a record high, while group equity surged past $20 billion.

Tether also has strategic investments in sectors like renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education.

Central to Tether’s performance was its increase in U.S. Treasury holdings, reaching an all-time high of $113 billion.

This milestone positions Tether among the largest holders of U.S. Treasuries globally, underscoring its commitment to liquidity and financial stability.

Additionally, Tether's excess reserve buffer exceeded $7 billion, marking a 36% increase from the previous year.

The company issued over $23 billion in USD₮ in Q4 alone, contributing to a total of $45 billion for 2024.

This issuance indicating USD₮’s dominance as the most widely accepted and used stablecoin worldwide.

Tether's diversified investments paid off with unrealized profits of approximately $5 billion from its gold and Bitcoin holdings in 2024.

Treasuries and repo agreements contributed another $7 billion, and traditional investments added $1 billion to the company's robust financial results.

An important development for Tether in 2024 was securing a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, establishing its new headquarters there.

The Management of Tether reported the following as of December 31, 2024:

• Consolidated total assets: $157.6 billion
• Consolidated total liabilities: $137.6 billion
• Reserves for Tether tokens in circulation: $143.7 billion
• Liabilities of companies issuing Tether tokens: $136.6 billion (with $136.6 billion related to digital tokens issued)
• Assets exceeding liabilities by $7.1 billion

CEO Paolo Ardoino commented on the report, stating, “Tether’s Q4 2024 attestation reinforces our position as a global leader in financial transparency, liquidity, and innovation. With U.S. Treasury holdings surpassing $113 billion, a reserve buffer exceeding $7 billion, and $45 billion in new token issuance for the year, Tether continues to set the gold standard for stability and trust in the digital assets space.”

Tether’s growth reflects the increasing popularity of USDT, which is backed 1:1 with liquid US dollar-denominated assets.

As of February 1, 2025, USDT has a market cap of $139.358 billion. This makes USDT the world's 4^th most valuable crypto by market cap.

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