Tether (USDT) Stuns the Market With a $13B Profit Report and $113B in US Treasury Holdings

Tether, one of the world's leading stablecoin issuers, reached record growth in 2024. Last December, MiCA severely reduced the firm's EU operations

Stablecoin issuer Tether has posted its latest financial report, revealing a net profit of $13 billion for 2024. The report also shows that Tether now holds $113 billion in US Treasuries.

Tether CEO Paolo Ardoino is looking ahead to the future, teasing new research areas and a proactive approach to potential US stablecoin legislation.

Tether's report shows huge wins in 2024

Tether, one of the world’s leading stablecoin issuers, achieved record growth in 2024. Despite the European Union’s MiCA legislation severely curtailing the firm’s operations in the bloc last December, this had little impact on Tether’s overall dominance.

USDT continues to lead the stablecoin market by a wide margin, and the stablecoin issuer's yearly financial report reflects this demand. Tether’s latest Attestation Report shows a net profit of $13 billion for 2024, with all-time-high US Treasury holdings.

However, CEO Paolo Ardoino is already looking to the future.

“In the following months we aim to launch several new products across all Tether pillars: from Artificial Intelligence platforms and apps to telecommunications, from new financial tools and services to broader educational efforts. Thank you very much to everyone for your support. We’re unstoppable together. Nothing else matters,” Ardoino said.

These bullish comments from Ardoino come amid a number of changes for Tether. Earlier this month, the company shifted its main headquarters to El Salvador after receiving the relevant licenses in that jurisdiction. According to the report, this move will aid Tether in its ambition to support financial inclusion and innovation worldwide.

Even before today’s financial report was released, there were clear signs that Tether was making huge profits. Earlier this month, the firm also made headlines with a $775 million investment in Rumble, while also transferring $700 million worth of Bitcoin into the company’s reserves.

At the time, BeInCrypto reported a $10 billion profit surge at Tether, but it overshot this number by a significant margin.

“Tether Investments holds $12.5 billion in assets, stablecoin excess reserves account for most of the rest. In 2024 Tether USDT reached the impressive milestone of 400 million users globally, mostly distributed among emerging markets and developing countries,” Ardoino added.

In addition to these profits, the report also claimed that Tether has $113 billion in direct and indirect US Treasury holdings. Notably, the Treasury Department recently acknowledged the vital role of stablecoins in the rising crypto economy.

Tether's CEO anticipates new rules that will require stablecoins to put reserves in Treasury bonds and is taking a proactive approach to the matter.

All in all, the report reflects Tether’s exceptionally strong financial state. A few other relevant numbers include $157.6 billion in consolidated total assets and $45 billion in new token issuance. With resources like these, Tether has the flexibility to explore other ventures and business avenues beyond crypto.