Tether has released its 2024 financial report, showing a net profit of over $13 billion for the year.
Tether has released its financial report for 2024, revealing a net profit of over $13 billion. The company's U.S. Treasury bond ownership reached its highest level at $113 billion, while USDT obtained $45 billion worth of issuance throughout 2024 due to robust market uptake.
BDO, a global independent accounting firm, confirmed the accuracy of the report. The financial reserves of Tether were officially verified as a result of this auditing process. The report provided a detailed analysis of all aspects of company assets, which was conducted at the end of December 2024. This investigation demonstrates Tether's strong financial standing and transparent business operations.
Tether achieved combined group equity reaching more than $20 billion during the fourth quarter of 2024. The company's remarkable growth is evident in these reported figures. Tether's diverse range of activities includes investments in renewable energy, Bitcoin mining, AI operations, telecommunications, and educational initiatives.
Throughout Q4 of the year, Tether's holdings of U.S. Treasuries experienced a significant increase. The company became one of the largest U.S. Treasury owners in the world as its holdings surpassed $113 billion during the period. Tether is deeply committed to ensuring market stability and liquidity.
Tether's financial assets increased with the addition of FEMA reserves. The company's financial reserves grew by 36% compared to the previous year, as Tether reached the milestone of surpassing $7 billion in excess reserves. The total USDT issuance by the company in Q4 amounted to $23 billion, which added up to $45 billion during the entire year 2024. Among all stablecoins, USDT is the most widely used around the globe, with the highest total issuance.
Through its various investments, including gold and Bitcoin, the company generated $5 billion in unrealized profits. Traditional investments, U.S. Treasuries, and repo agreements combined to yield $7 billion in earnings, with an additional $1 billion coming from regular investments. These investments contribute to the company's strong financial foundation.
Tether International SA de C.V. was granted a stablecoin issuer and Digital Asset Service Provider (DASP) license by El Salvador, enabling it to operate from its newly established headquarters in the country. As the new headquarters for Tether, El Salvador will play a crucial role in advancing the company's financial inclusion goals for users around the world.
Paolo Ardoino, CEO of Tether, stated that the company is dedicated to maintaining stability while operating with complete transparency. As the market leader in stablecoins, Tether continues to demonstrate its dominance through excellent token creation, substantial reserves, and directed investments, all backed by record-setting reserves. The company will expand its digital finance operations in the future by sustaining strong trust with secure services for user safety.
