Just In: Tether Dominates Stablecoins With $13B Profits In 2024

Tether Holdings Limited reported impressive financial reports for 2024 in a record year for the company and continued to expand even in a volatile environment.

As for the main events that are believed to have influenced Tether throughout the past year, these are summed as follows:

Financial Milestones and Assurance Report

Tether Holdings Limited recently announced that the company logged a US$13 billion net profit and US$20 billion-plus group equity in the year 2024.

This expansion is a result of the company’s proper investment approach into embracing new fresh sectors like renewable energy, Bitcoin mining, AI technology, telecommunication, and education.

In addition, the year also witnessed a historic rise in the reserve buffer of Tether to $7 billion, which is an indication of the stability of the company.

This was further supported by additional reports from BDO showing a sound total asset position of $157.6 billion against total liabilities of $137.6 billion.

– Advertisement –

Leadership in U.S. Treasury Holdings

Additionally, 2024 was a significant year for Tether. Its reserves expanded its pledge of investments in the US Treasuries with $113 billion.

This makes the company one of the biggest holders of U.S. government bonds. This strategy reflects Tether’s focus on liquidity and risk management.

Secondly, through investing highly in these secure assets, Tether also strengthens its financial foundation in addition to providing strong support toward the USD₮ as a stable and reliable platform for its users.

Unprecedented Growth in Token Issuance

Tether stablecoin, USDT, experienced a significant expansion, releasing $45 billion worth of tokens into the market within the year 2024.

The largest portion of its issuance was in Q4 at $23 billion due to increasing demand for stable digital currency.

This has placed USD₮ as the largest stablecoin by some distance close to the market capitalization of its competitors. And reflects Tether’s dominance in the market.

More so, a recent report showed Tether leading the crypto revenue charts, generating $87.2 million in weekly fees, followed by Tron ($66.8M) and Ethereum ($39.3M).

The data highlights stablecoins and Layer-1 blockchains as revenue generators, reflecting increased transaction activity.

Regulatory Advancements and Global Outreach

More so, the recent acquisition of a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador can be seen as a valuable move for Tether.

Tether establishes its headquarters in El Salvador to take advantage of the permissive environment to advance technology and expand and improve services around the world.

This is in line with its overall strategic plan to promote financial freedom and stability while offering stablecoins globally.

Meanwhile, another significant milestone for Tether has been its integration of USDT with Bitcoin’s Lightning Network.

The world’s largest stablecoin issuer announced this development at the Plan B conference in El Salvador.

With USDT now operating directly on Bitcoin’s system, transactions are becoming both faster and more cost-efficient.