Tether Records $13 Billion Profit for 2024, Boosted by All-Time Highs in Bitcoin and U.S. Treasury Holdings
Last year, it was a great price for the encryption market. The price of the market was strong, including Bitcoin that broke $ 100,000 for the first time. As Donald Trump won the election, Donald Trump became the first US president to become cryptocurrency supporters. Many companies related to cryptocurrencies have obtained considerable profits. The company’s largest company behind Stablecoin announced today that the company received a record of $ 13 billion in net profit of the entire group last year.
Tether issued more than $ 23 billion in the fourth quarter
Line Has been published The fourth quarter guarantee report written by the global independent accounting company BDO. The latest verification confirms the accuracy of Tether’s consolidated reserves (CRR), and introduces the assets of tokens reserves issued as of December 31, 2024.
After a strong year, in the fourth quarter, Tether achieved several record climax. The company’s annual net profit has soared $ 13 billion, and its group’s equity exceeds $ 20 billion. This growth shows that the dominant status of the coin and its investment focus on the areas of upward energy renewable energy, Bitcoin mining, AI, telecommunications and education.
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The main highlight of the quarter was that Tether’s investment in US Treasury bonds increased, and the national debt reached the historical highest amount of direct and indirectly held at $ 113 billion. This makes cars one of the largest global holders in US Treasury bonds.
In addition, Tether’s reserve buffer exceeded $ 7 billion for the first time, an increase of 36 % over the year.
In the fourth quarter, the rope also issued more than $ 23 billion USDT, totaling $ 45 billion in that year. The total distribution is almost equivalent to the entire market value of the second largest Stablecoin USDC.
Bitcoin’s ATH brings billions of dollars in profits to the lace
Tether has obtained these milestones, and also gains an advantage from its investment in gold and Bitcoin prices. The unrealized profit that year was about $ 5 billion. In addition, the investment in the Treasury and the repurchase agreement contributed $ 7 billion, and other traditional investment increased by $ 1 billion.
According to proof, Tether added its Bitcoin holdings for the first time last quarter, holding nearly 84,000 BTCs, worth about 7.8 billion US dollars.
Tether’s USDT is the fourth largest cryptocurrency with a market value of 140 billion US dollars. This is the key part of the encrypted asset transaction infrastructure, and it is becoming more and more popular in development to pay, sending remittances and saving US dollars.
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However, due to the EU’s new cloud mother regulations, many exchanges have either stood out or announced the plan to stop providing it to EU users, which led to a reduction in the supply of token.
This year, the company also announced a plan to move its headquarters to Salvador. This Central American country led by Bitcoin Friendship President Nayib Bukele is becoming a development center for cryptocurrency companies.
