• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Tether Achieves Record $13B Net Profit in 2024

user avatar

by A1

3 hours ago


Tether Holdings Limited reported a record net profit of $13 billion for 2024, driven by strategic investments and increased reserves.

Financial Results and Strategy

In 2024, Tether achieved a net profit of $13 billion, with total equity surpassing $20 billion. The company's reserve buffer grew to $7 billion, confirmed by auditor BDO. Assets rose to $157.6 billion against liabilities of $137.6 billion. The company's strategic investments were focused on Bitcoin mining, AI infrastructure, and renewable energy projects.

Expansion into New Markets

USD₮ issuance grew by $45 billion, including $23 billion in Q4, maintaining a 68% market share. Tether enhanced regulatory compliance efforts by securing a Digital Asset Service Provider license in El Salvador, making it the new headquarters. Simultaneously, integration with Bitcoin's Lightning Network enabled reduced fees and improved transaction speed.

Criticism and Outlook

Despite significant achievements, Tether faces criticism for concentration risk in U.S. debt exposure. However, the company asserts that its reserves exceed redemption demands by $7 billion. The Lightning Network integration also enables users to transact without intermediaries, potentially reducing reliance on Ethereum-based stablecoins.

Tether demonstrated significant financial strengthening and market influence expansion in 2024. However, ongoing criticisms about risk require careful reserve management and strategic planning.

0

Share

Other news

21Shares Launches Second Polkadot Fund This Week

21Shares files S-1 for Polkadot ETF, marking the second DOT-focused fund this week after Tuttle Capital's filing.

user avatarA1

14 minutes ago

Gemini Stops Hiring MIT Alumni Over Gensler's Return

Gemini ceases hiring MIT graduates after Gary Gensler's appointment as professor.

user avatarA1

15 minutes ago

New Grayscale ETF Offers Access to Bitcoin Mining Sector

Grayscale Investments introduces ETF for investing in Bitcoin mining companies, including Marathon and Riot Platforms.

user avatarA1

16 minutes ago

Qardun Token Debuts on Binance, Expanding Blockchain Commerce

Qardun Token launches on Binance, enhancing blockchain commerce accessibility and security for global users.

user avatarA1

17 minutes ago

Analyzing Crypto Growth: Ethereum, XRP, and Web3Bay

Ethereum improvements, XRP actions, and Web3Bay presale highlight changes in the crypto world.

user avatarA1

18 minutes ago

Security Challenges and Solutions for Ethereum Rollups

Explore Ethereum rollups: security issues, solutions, and important insights for users and developers.

user avatarA1

40 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.