Tether Reports $13 Billion Profits and Record U.S. Treasury Holdings in 2024

Tether Holdings Limited has reported a significant financial milestone, achieving $13 billion in profits for the year 2024. The company's latest attestation, conducted by the global accounting firm BDO, confirms record highs in U.S. Treasury holdings, USD₮ circulation, and reserve buffers, according to Tether.

Record-Breaking Financial Performance

The fourth quarter of 2024 marked several milestones for Tether, with the company’s group equity surpassing $20 billion. This surge reflects Tether’s strategic investments in sectors such as renewable energy, Bitcoin mining, AI, telecommunications, and education. Notably, Tether's U.S. Treasury holdings reached an unprecedented $113 billion, positioning the company among the largest holders globally and emphasizing its commitment to liquidity and stability.

Increased USD₮ Circulation and Reserve Buffer

Tether's USD₮ issuance in the fourth quarter amounted to over $23 billion, contributing to a total annual issuance of $45 billion. This figure nearly matches the market cap of the second-largest stablecoin, underscoring USD₮'s dominance in the stablecoin market. Additionally, Tether's excess reserve buffer exceeded $7 billion for the first time, marking a 36% increase from the previous year and showcasing the company's financial resilience.

Investment and Licensing Achievements

During 2024, Tether also reported $5 billion in unrealized profits from its holdings in gold and Bitcoin, while treasuries and repo agreements contributed $7 billion. Tether International SA de C.V. secured a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, establishing it as the group’s new headquarters. This move reinforces Tether's mission to enhance financial inclusion and innovation worldwide.

Consolidated Financial Overview

As of December 31, 2024, Tether's consolidated total assets amounted to $157.6 billion, with total liabilities at $137.6 billion. The reserves for Tether tokens in circulation were valued at over $143 billion, exceeding the liabilities by more than $7 billion. This financial structure highlights Tether's robust position in the digital asset market.

Paolo Ardoino, CEO of Tether, stated, “Tether’s Q4 2024 attestation reinforces our position as a global leader in financial transparency, liquidity, and innovation. With U.S. Treasury holdings surpassing $113 billion, a reserve buffer exceeding $7 billion, and $45 billion in new token issuance for the year, Tether continues to set the gold standard for stability and trust in the digital assets space.”