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- Tether Holdings Limited reported a record-breaking net profit of over $13 billion for 2024, with group equity surpassing $20 billion.
- The company increased its U.S. Treasury holdings to $113 billion, highlighting its commitment to liquidity and stability.
- Tether issued $45 billion in USD₮ throughout 2024, nearly matching the market cap of the second-largest stablecoin.
- Tether obtained a stablecoin issuer license in El Salvador, marking a strategic move to enhance financial inclusion and innovation.
On January 31, 2025, Tether Holdings Limited released its assurance opinion for the fourth quarter of 2024, conducted by BDO, a leading global independent accounting firm. The attestation reaffirms the accuracy of Tether’s Consolidated Reserves Report (CRR) and provides a detailed breakdown of the assets held as reserves for the issued tokens as of December 31, 2024.
Building on a strong performance in 2024, Tether achieved several all-time highs in the fourth quarter. The company reported yearly net profits exceeding $13 billion, with group equity surpassing $20 billion. This growth reflects Tether’s strategic investments across emerging industries such as renewable energy, Bitcoin mining, AI, telecommunications, and education.
Increased U.S. Treasury Holdings and Reserve Buffer
A significant highlight of the quarter is Tether’s increased exposure to U.S. Treasuries, which reached $113 billion in direct and indirect holdings. This positions Tether among the largest holders of U.S. Treasuries globally, underscoring the company’s commitment to liquidity and stability. Additionally, Tether’s excess reserve buffer exceeded $7 billion for the first time, marking a 36% yearly increase and solidifying Tether’s financial resilience.
During Q4, Tether issued over $23 billion in USD₮, contributing to a total issuance of $45 billion for 2024. This figure represents almost the entire market cap of the second-largest stablecoin, highlighting USD₮’s widespread acceptance and use globally.
Strategic Investments and Licensing Milestones
Tether recognized the performance of its gold and Bitcoin holdings, which generated unrealized profits of approximately $5 billion during the year. Treasuries and repo agreements contributed $7 billion, while other traditional investments of the Group added another $1 billion.
In a significant milestone, Tether International SA de C.V. obtained a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, which now serves as the Group’s new headquarters. This move reinforces Tether’s mission to drive financial inclusion and innovation worldwide.
Paolo Ardoino, CEO of Tether, remarked, “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.”
For further details, please refer to the latest assurance opinion and the Consolidated Reserves Report here.
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