Tether Holdings Limited, the USDT stablecoin issuer, has reported over $13 billion in profits in the last year as per the latest attestation report.
The company released an attestation report for the fourth quarter of 2024 on January 31. BDO, a significant international independent accounting firm, completed the report. As of December 31, 2024, the most recent report describes the assets supporting Tether’s coins and validates its reserves.
The report says that the net profit exceeded $ 13 billion which is an all-time high. The company’s equity rose above $20 billion, showing its ongoing success and focus on investments in areas like renewable energy, Bitcoin mining, AI, telecom, and education.
The major highlight is Tether’s record $113 billion ownership in US Treasury securities. This demonstrates Tether’s emphasis on preserving liquidity and financial stability by placing it among the largest holders of US government securities.
The USDT circulation then increased as well, issuing $23 billion in tokens in Q4 to reach $45 billion for 2024. This is almost the entire market cap of the second-largest stablecoin, further strengthening USDT as the most widely used stablecoin globally.
Additionally, Tether’s reserve buffer grew by 36% annually to surpass $7 billion for the first time. This surplus reserve shows Tether’s financial stability in the face of market swings and adds an extra degree of protection for the business and its customers.
Tether also got its new license as a stablecoin issuer and Digital Asset Service Provider (DASP) in El Salvador. The country has become Tether’s headquarters, demonstrating the company’s commitment to promoting financial inclusion and innovation in the field of digital banking.
With a new license in El Salvador and investments in important industries, Tether CEO Paolo Ardoino highlighted the company’s leadership in stability, innovation, and financial inclusion.
Also Read: Tether Plans to Bring USDT to Bitcoin lightning Network
