Tether Reports $13 Billion Profit in 2024 Driven by Bitcoin and Gold
- Tether achieved a net profit of $13 billion in 2024.
- The company generated $6 billion in profit during the last quarter of the year.
- Total assets reached $143.7 billion, with excess reserves at $7 billion.
- Bitcoin holdings increased to nearly 84,000 BTC, valued at approximately $7.8 billion.
- USDT issuance totaled $45 billion for the year, with a market capitalization of $140 billion.
Tether’s substantial profits in 2024 were fueled by rising Bitcoin and gold prices, alongside strong returns from U.S. Treasuries. The company expanded its Bitcoin holdings significantly, while USDT issuance contributed to its growing market presence.
Source (2.6)https://coingape.com/stablecoin-issuer-tether-reports-13b-profit-boosted-by-bitcoin-and-gold/?rand=24432
