Tether Holdings Ltd.报告说，2024年的130亿美元利润惊人

在正在进行的加密公牛运行期间，Stablecoin市场经历了指数级的增长，系绳处于这一激增的最前沿。

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发行人Tether Holdings Ltd.报告说，2024年的130亿美元利润令人惊叹，使该公司与华尔街一些顶级投资银行的利润一样有利可图。这项出色的收入凸显了对Stablecoins的蓬勃发展需求，尤其是Tether的USDT代币，该公司的市值在这一年中飙升至令人印象深刻的1430亿美元。然而，尽管收入了这些巨大的收入，但由于缺乏全面的透明度和全面的审计，系绳仍面临批评，这引起了监管机构和财务分析师之间的关注。

Tether’s Impressive Financial Growth Amid Crypto Bull Market

在加密牛市中，系特特（Tether）令人印象深刻的财务增长

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.

在正在进行的加密公牛运行期间，Stablecoin市场经历了指数级的增长，系绳处于这一激增的最前沿。仅在2024年的最后一个季度，Tether发行了惊人的230亿美元，强调了对Stablecoins的飙升需求，因为越来越多的投资者转向这些数字资产以在原本波动的市场中稳定。

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的大量利润也归因于其不断扩大的财政部股票，其中包括直接和间接的美国政府债券超过1,130亿美元。该公司不断增加的美国国库券债券提供了稳定的利息收入，这对其盈利能力产生了重大贡献。 Tether声称拥有超过70亿美元的盈余储量，进一步巩固了其在Stablecoin市场中占主导地位的地位。

Transparency Issues and Growing Scrutiny

透明度问题和越来越多的审查

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.

尽管Tether令人印象深刻的财务业绩，但该公司缺乏透明度仍然是一个主要问题。 Tether不发布经过审计的年度财务报告，而是选择通过全球会计公司BDO发布季度证明。这些证明仅提供了公司财务状况的快照，对Tether储量的质量和流动性尚未得到许多问题。

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.

这种不透明度引发了监管机构，市场参与者和分析师之间的关注，他们对Tether在市场不稳定期间满足大量赎回请求的能力仍然不确定。缺乏完整的审核引发了有关系带储备的稳定性及其长期可持续性的疑问，尤其是随着围绕Stablecoins的审查继续加剧。

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

系绳与美国金融部门的联系

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，在与Tether联系的主要金融机构Cantor Fitzgerald LP的首席执行官霍华德·卢特尼克（Howard Lutnick）的确认听证会上，他在美国金融生态系统中的影响力得到了强调。卢特尼克（Lutnick）透露，坎托·菲茨杰拉德（Cantor Fitzgerald）持有固定的敞篷债券，并表示对像USDT这样的Stablecoins独立运营的稳定构成的支持。

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.

这一启示进一步引起了Tether与美国金融世界的联系，尤其是当监管机构研究Stablecoins在更广泛的金融体系中的作用时。尽管Tether在美国市场的存在仍然有限，但与Cantor Fitzgerald等有影响力的财务参与者的合作关系表明，该公司可能会继续在传统财务中扩大其影响力。

Tether Moves to El Salvador

系绳搬到萨尔瓦多

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.

为了加强其全球影响力的战略性，Tether已正式将其合法总部搬到了萨尔瓦多（El Salvador），萨尔瓦多（El Salvador）以其加密货币友好的立场而闻名。截至2025年1月，Tether International SA已成为USDT的唯一官方发行人，进一步巩固了该公司对在El Salvador迅速发展的Crypto生态系统中运营的承诺。

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.

这种搬迁还表明，在一个将自己定位为加密采用领导者的国家中，特ether渴望加强其立足点。埃尔·萨尔瓦多（El Salvador）在2021年成为第一个采用比特币作为法定招标的国家成为头条新闻，而现在，蒂瑟（Tether）决定在那里进行运营的决定反映了埃尔·萨尔瓦多（El Salvador）在全球加密货币景观中的重要性。

Tether’s Continued Dominance in the Stablecoin Market

系链球菌在Stablecoin市场上的持续统治地位

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仍然拥有创纪录的利润130亿美元，市值为1430亿美元，仍然是Stablecoin市场中的主要力量。但是，随着稳定者受到监管机构的关注，特别是在美国，对更高透明度和更清晰的财务披露的需求已成为一个紧迫的问题。尽管Tether令人印象深刻的财务业绩展示了其利用对稳定币需求不断增长的能力，但围绕其储备和监管合规性的问题仍在对其未来产生阴影。

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.

随着全球政府和监管机构继续仔细检查稳定币在金融生态系统中的作用，Tether解决这些透明度问题的能力对于保持其在市场上的领导地位至关重要。