Profits for 2024 Reach $13B at Tether, Exceeding $113B in U.S. Treasuries
The assurance opinion for Q4 2024 was published by Tether Holdings Limited, which reaffirmed the company's financial soundness and transparency.
Tether had a record-breaking year, according to the BDO analysis, with yearly earnings of $13 billion and group equity exceeding $20 billion.
Important Points Regarding Money
Asset value: $157.6B
Amount due: $137.6 billion
Amount of funds supporting tokens issued: $143.7 billion
Reserve excess: $7 billion, an increase of 36% year-over-year
Issued in 2024: $45 billion in USD
Direct and indirect ownership of U.S. Treasuries: $113 billion
Tether became one of the biggest worldwide holders of U.S. government debt as its exposure to U.S. Treasuries hit an all-time high.
There was an additional $8 billion in unrealized gains from repo agreements and conventional investments, on top of the $5 billion from Bitcoin and gold holdings.
Going Further Than Stablecoins
Tether has expanded its business interests beyond stablecoin issuance to include Bitcoin mining, alternative energy, artificial intelligence, telecoms, and education. Although these investments do not count towards Tether's reserves, they do show how important it is becoming in the global banking industry.
By obtaining a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, Tether International SA demonstrated its dedication to financial inclusion and reached a significant regulatory milestone.
