Tether Reaffirms Consolidated Reserves Report Accuracy as Net Profits Surpass $13 Billion in 2024

Global accounting firm BDO has conducted the assurance opinion for Tether Holdings Limited for Q4 2024, reaffirming the accuracy of the company's Consolidated Reserves Report (CRR).

Record Q4 Financials for Tether as Net Profits Cross $13B

Tether Holdings Limited has unveiled its Consolidated Reserves Report (CRR) for Q4 2024, revealing a strong performance with net profits exceeding $13 billion. This follows a record-breaking year for the company, with its fourth-quarter results highlighting continued growth and resilience.

Tether’s group equity surged to over $20 billion, and its reserve buffer surpassed $7 billion, showing a 36% increase from the previous year. This growth reflects the company’s strategic investments in emerging sectors like renewables, Bitcoin mining, AI, and telecommunications, as it continues to diversify its portfolio for long-term stability.

Moreover, Tether's exposure to U.S. Treasuries reached an all-time high of $113 billion by the end of 2024, making the company one of the largest holders of U.S. Treasuries globally. This vast holding contributes to ensuring the stability and liquidity of the Tether ecosystem.

In Q4 2024, Tether issued over $23 billion USD₮, bringing the total issuance for the year to $45 billion. This significant token issuance reflects Tether's growing influence in the stablecoin market, even as competitors like USD Coin (USDC) gain market share.

Tether's diversification strategy, which includes investments in gold and Bitcoin, contributed approximately $5 billion in profits during 2024. This strong investment performance, combined with traditional investments like treasuries and repurchase agreements, enabled Tether to deliver record results.

In addition to its financial achievements, Tether has expanded its global presence, marking a key milestone by securing a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador. This license enhances the company's regulatory standing and international operations.

With the launch of its new headquarters in El Salvador, Tether continues to drive its mission of financial inclusion and innovation across borders. Furthermore, Tether has announced its plans to integrate USDT with Bitcoin's base layer and the Lightning Network.

This groundbreaking development will enable more seamless and efficient transactions between USDT and Bitcoin, strengthening the collaboration between two major players in the crypto market.

Despite Tether losing some overall stablecoin market share, its position in the cryptocurrency space remains dominant. By 2024, Tether's market cap had fallen to around 65%, while competitors like USD Coin (USDC) gained ground.

However, Tether still maintains a commanding share of 82% of the total market cap of centralized exchanges, further cementing its position as the leading stablecoin provider.

Tether's remarkable achievements in 2024 showcase its strength, innovation, and ongoing expansion. The company's commitment to maintaining liquidity, stability, and global reach ensures that it remains a key player in the cryptocurrency ecosystem for the foreseeable future.