Tether (USDT) Reports Record $13B in Profits in 2024, Now Holds Its Largest-Ever Reserve of U.S. Government Bonds

Tether, issuer of the $USDt stablecoin, reported record profits of $13 billion in 2024 and now holds its largest-ever reserve of U.S. government bonds.

Stablecoin issuer Tether reported a record net profit of $13 billion in 2024, according to an announcement on January 31, 2025.

The company, which issues the $USDT stablecoin, now holds its largest-ever reserve of U.S. government bonds, with an estimated $113 billion in T-bills, according to the announcement.

Tether’s U.S. Treasury portfolio reflects the growing adoption of $USDT, which had a total market capitalization of roughly $137 billion as of December 31, 2024, an independent attestation by BDO, a large accounting firm, revealed.

At the same time, Tether’s total reserves stood at over $143 billion, the attestation showed.

In July 2024, Tether stated that its Treasury holdings were greater than those of all but 17 national governments, including Germany, the UAE, and Australia.

Besides Treasuries, the company also holds gold and Bitcoin, with the latter alone contributing $5 billion in profits in 2024.

“Tether’s management decided to keep $5.33 billion in Excess Reserves as part of the stablecoin reserves (on top of the 100% reserves that are backing all issued tokens) to further protect… pic.twitter.com/FJq0r5o4T8

— BitKE (@BitcoinKE) August 2, 2024

The company’s consolidated net equity — total assets minus liabilities — stands at $20 billion, according to the announcement.

Tether issued approximately $23 billion in USDT in Q4 2024 and $45 billion for the full year, with USDT being continuously issued and redeemed.

“Tether’s Q4 2024 attestation reinforces our position as a global leader in financial transparency, liquidity, and innovation,” said Paolo Ardoino, CEO of Tether, in the announcement.

“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.”

In December 2024, Tether stated that USDT wallets had increased 71% in the past year and 129% the year before, primarily driven by wallets holding less than $1,000.

The growth was largely fueled by adoption in emerging markets, including Africa.

STABLECOINS | Majority of New $USDT Users Are Coming from Emerging Markets, Including African Cities, Says a Bloomberg Analysis

According to Ardoino, Tether has just over 300 million users globally.https://t.co/DQz6v1xCHi @Tether_to @paoloardoino pic.twitter.com/jXthoNYyGt

— BitKE (@BitcoinKE) November 6, 2024

According to Tether, centralized platforms remain a vital part of the ecosystem, hosting 86 million accounts that have received on-chain USDT deposits.

Exchanges on these platforms attracted 4.5 billion web visits during the first three quarters of 2024.

As reported by BitKE in December 2024, 46% of these visits originated from emerging markets, where users often depend on $USDT for saving, transacting, and managing financial challenges.

In many instances, users handle all activities — buying, holding, and sending — exclusively within these platforms.

Follow us on X for latest posts and updates

Join and interact with our Telegram community