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Tether reports $13b profit in 2024
Tether, a stablecoin issuer, reported a net profit of US$13 billion for 2024, according to its fourth-quarter and year-end attestation released on Jan.31.
The report, reviewed by accounting firm BDO, indicated that the company earned US$6 billion in profit during the fourth quarter alone.
The firm’s exposure to US Treasurys increased to US$113 billion, marking a record high.
Tether issued US$23 billion in USDT during Q4, bringing the total issuance for the year to US$45 billion.
Recent Tether developments
| Timeline |
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03-Jan-2025 📉 Tether’s market cap drops amid new EU crypto rules
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03-Jan-2025 ⚖️ New EU crypto rules lead Tether to shift leadership
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02-Dec-2024 🚀 XRP overtakes tether, becomes third-largest crypto
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12-Mar-2024 🚀 Tether CEO wants to break Microsoft, AWS, Google’s hold on cloud computing
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14-May-2014 📱 Nintendo and Docomo join forces to offer 3DS tethering in Japan
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