Tether Holdings Ltd.報告說，2024年的130億美元利潤驚人

在正在進行的加密公牛運行期間，Stablecoin市場經歷了指數級的增長，繫繩處於這一激增的最前沿。

Stablecoin issuer Tether Holdings Ltd. has reported a staggering $13 billion profit for 2024, rendering the company as profitable as some of Wall Street’s top investment banks. This remarkable earnings highlight the booming demand for stablecoins, particularly Tether’s USDT token, which saw its market capitalization soar to an impressive $143 billion during the year. However, despite these remarkable earnings, Tether continues to face criticism due to its lack of full transparency and comprehensive audits, raising concerns among regulators and financial analysts.

Stablecoin發行人Tether Holdings Ltd.報告說，2024年的130億美元利潤令人驚嘆，使該公司與華爾街一些頂級投資銀行的利潤一樣有利可圖。這項出色的收入凸顯了對Stablecoins的蓬勃發展需求，尤其是Tether的USDT代幣，該公司的市值在這一年中飆升至令人印象深刻的1430億美元。然而，儘管收入了這些巨大的收入，但由於缺乏全面的透明度和全面的審計，繫繩仍面臨批評，這引起了監管機構和財務分析師之間的關注。

Tether’s Impressive Financial Growth Amid Crypto Bull Market

在加密牛市中，系特特（Tether）令人印象深刻的財務增長

The stablecoin market has experienced exponential growth during the ongoing crypto bull run, with Tether at the forefront of this surge. In the final quarter of 2024 alone, Tether issued a staggering $23 billion in USDT, underscoring the soaring demand for stablecoins as more investors turn to these digital assets for stability in an otherwise volatile market.

在正在進行的加密公牛運行期間，Stablecoin市場經歷了指數級的增長，繫繩處於這一激增的最前沿。僅在2024年的最後一個季度，Tether發行了驚人的230億美元，強調了對Stablecoins的飆升需求，因為越來越多的投資者轉向這些數字資產以在原本波動的市場中穩定。

Tether’s substantial profits are also attributed to its expanding treasury holdings, which include over $113 billion in U.S. government bonds, both direct and indirect. The company’s growing exposure to U.S. treasury bonds provides a steady stream of interest income, contributing significantly to its profitability. Tether claims to have more than $7 billion in surplus reserves, further solidifying its position as a dominant player in the stablecoin market.

Tether的大量利潤也歸因於其不斷擴大的財政部股票，其中包括直接和間接的美國政府債券超過1,130億美元。該公司不斷增加的美國國庫券債券提供了穩定的利息收入，這對其盈利能力產生了重大貢獻。 Tether聲稱擁有超過70億美元的盈餘儲量，進一步鞏固了其在Stablecoin市場中占主導地位的地位。

Transparency Issues and Growing Scrutiny

透明度問題和越來越多的審查

Despite Tether’s impressive financial performance, the company’s lack of transparency remains a major concern. Tether does not release audited annual financial reports, instead opting to publish quarterly attestations via BDO, a global accounting firm. These attestations offer only a snapshot of the company’s financial status, leaving many questions unanswered regarding the quality and liquidity of Tether’s reserves.

儘管Tether令人印象深刻的財務業績，但該公司缺乏透明度仍然是一個主要問題。 Tether不發布經過審計的年度財務報告，而是選擇通過全球會計公司BDO發布季度證明。這些證明僅提供了公司財務狀況的快照，對Tether儲量的質量和流動性尚未得到許多問題。

This opacity has sparked concerns among regulators, market participants, and analysts, who remain uncertain about Tether’s ability to meet significant redemption requests during times of market instability. The absence of a full audit raises questions about the stability of Tether’s reserves and its long-term sustainability, especially as the scrutiny surrounding stablecoins continues to intensify.

這種不透明度引發了監管機構，市場參與者和分析師之間的關注，他們對Tether在市場不穩定期間滿足大量贖回請求的能力仍然不確定。缺乏完整的審核引發了有關係車儲備的穩定性及其長期可持續性的疑問，尤其是隨著圍繞Stablecoins的審查繼續加劇。

Tether’s Ties to the U.S. Financial Sector

繫繩與美國金融部門的聯繫

Tether’s influence within the American financial ecosystem was highlighted recently during the confirmation hearing of Howard Lutnick, the CEO of Cantor Fitzgerald LP, a major financial institution with ties to Tether. Lutnick revealed that Cantor Fitzgerald holds a convertible bond with Tether and expressed support for the idea of stablecoins like USDT operating independently.

最近，在與Tether聯繫的主要金融機構Cantor Fitzgerald LP的首席執行官霍華德·盧特尼克（Howard Lutnick）的確認聽證會上，他在美國金融生態系統中的影響力得到了強調。盧特尼克（Lutnick）透露，坎托·菲茨杰拉德（Cantor Fitzgerald）持有固定的敞篷債券，並表示對像USDT這樣的Stablecoins獨立運營的穩定構成的支持。

This revelation has further brought attention to Tether’s connections to the U.S. financial world, especially as regulators examine the role of stablecoins in the broader financial system. While Tether’s presence in the U.S. market remains limited, its partnership with influential financial players, such as Cantor Fitzgerald, suggests that the company may continue to expand its influence within traditional finance.

這一啟示進一步引起了Tether與美國金融世界的聯繫，尤其是當監管機構研究Stablecoins在更廣泛的金融體系中的作用時。儘管Tether在美國市場的存在仍然有限，但與Cantor Fitzgerald等有影響力的財務參與者的合作關係表明，該公司可能會繼續在傳統財務中擴大其影響力。

Tether Moves to El Salvador

繫繩搬到薩爾瓦多

In a strategic move to bolster its global presence, Tether has officially relocated its legal headquarters to El Salvador, a country known for its crypto-friendly stance. As of January 2025, Tether International SA has become the sole official issuer of USDT, further solidifying the company’s commitment to operating within the burgeoning crypto ecosystem in El Salvador.

為了加強其全球影響力的戰略性，Tether已正式將其合法總部搬到了薩爾瓦多（El Salvador），薩爾瓦多（El Salvador）以其加密貨幣友好的立場而聞名。截至2025年1月，Tether International SA已成為USDT的唯一官方發行人，進一步鞏固了該公司對在El Salvador迅速發展的Crypto生態系統中運營的承諾。

This relocation also signals Tether’s desire to strengthen its foothold in a nation that has positioned itself as a leader in crypto adoption. El Salvador made headlines in 2021 by becoming the first country to adopt Bitcoin as legal tender, and now Tether’s decision to base its operations there reflects the growing importance of El Salvador in the global crypto landscape.

這種搬遷還表明，在一個將自己定位為加密採用領導者的國家中，特ether渴望加強其立足點。埃爾·薩爾瓦多（El Salvador）在2021年成為第一個採用比特幣作為法定招標的國家成為頭條新聞，而現在，蒂瑟（Tether）決定在那裡進行運營的決定反映了埃爾·薩爾瓦多（El Salvador）在全球加密貨幣景觀中的重要性。

Tether’s Continued Dominance in the Stablecoin Market

系鏈球菌在Stablecoin市場上的持續統治地位

With a record profit of $13 billion and a market capitalization of $143 billion, Tether remains a dominant force in the stablecoin market. However, as stablecoins gain increasing attention from regulators, particularly in the U.S., the need for greater transparency and clearer financial disclosures has become a pressing issue. While Tether’s impressive financial results showcase its ability to capitalize on the growing demand for stablecoins, questions surrounding its reserves and regulatory compliance continue to cast a shadow over its future.

Tether仍然擁有創紀錄的利潤130億美元，市值為1430億美元，仍然是Stablecoin市場中的主要力量。但是，隨著穩定者受到監管機構的關注，特別是在美國，對更高透明度和更清晰的財務披露的需求已成為一個緊迫的問題。儘管Tether令人印象深刻的財務業績展示了其利用對穩定幣需求不斷增長的能力，但圍繞其儲備和監管合規性的問題仍在對其未來產生陰影。

As global governments and regulators continue to scrutinize the role of stablecoins in the financial ecosystem, Tether’s ability to address these transparency concerns will be crucial to maintaining its leadership position in the market.

隨著全球政府和監管機構繼續仔細檢查穩定幣在金融生態系統中的作用，Tether解決這些透明度問題的能力對於保持其在市場上的領導地位至關重要。