Tether Hits $13 Billion Profits for 2024 And All-Time Highs in U.S. Treasury Holdings, USD₮ Circulation, and Reserve Buffer in Q4 2024 Attestation

The report confirms the accuracy of Tether's Consolidated Reserves Report (CRR) and details the assets backing its issued tokens as of December 31st, 2024.

Stablecoin issuer Tether has published its Q4 2024 assurance opinion from BDO, a Cayman Islands-based accounting firm. The report attests to the accuracy of Tether’s Consolidated Reserves Report (CRR) and details the assets backing its issued tokens.

According to the report, Tether boasted over $13 billion in net profits for 2024, with Group equity exceeding $20 billion. The company also continued investing in Bitcoin mining, artificial intelligence, renewable energy, telecommunications, and education.

Furthermore, Tether's U.S. Treasury holdings reached a record $113 billion, and the reserve buffer grew to more than $7 billion, reflecting a 36% annual increase.

In Q4, Tether also issued $23 billion in USD₮, bringing total issuance for the year to $45 billion. Revenue was generated from multiple sources, including $7 billion from U.S. Treasuries and repo agreements, $5 billion in unrealized gains from Bitcoin and gold holdings, and $1 billion from other investments.

Moreover, the stablecoin giant disclosed its activities in Bitcoin, which extended beyond its holdings. Tether reportedly continued investing in Bitcoin mining infrastructure and expanding its footprint in the Bitcoin ecosystem.

In terms of regulatory developments, Tether International SA de C.V. notably obtained a Digital Asset Service Provider (DASP) and stablecoin issuer license in El Salvador, where it has established its headquarters.

“Tether's Q4 2024 attestation is out. Highlights as of 31st December 2024:

– $13.7 billion profit for year 2024

– ~$6 billion profit for Q4 2024

– $113 billion in direct and indirect holdings

– $7 billion in Tether's excess stablecoin reserves (36% increase YoY),… https://t.co/izYONstKuF

Commenting on the latest financial performance and regulatory updates, Paolo Ardoino, CEO of Tether, stated:

“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. The Group Equity surpassed $20 billion. Our licensing milestone in El Salvador and investments in transformative sectors further highlight our unwavering commitment to driving financial inclusion and resilience.”