Tether Reports Over $10 Billion Profit and Significant Gold Holdings
- Tether achieved a net profit exceeding $10 billion for the year, supported by growth in its stablecoin USDT.
- The company reported holding $6.3 billion in excess reserves against liabilities of $186.5 billion tied to issued tokens.
- Tether’s holdings of U.S. Treasuries reached $122 billion, making it one of the largest holders of U.S. government debt.
- Gold holdings increased to $17.4 billion, with purchases at a rate of up to two tons per week.
- USDT’s circulating supply grew by $50 billion over the year, totaling over $186 billion.
The report indicates a strong demand for stablecoins, with Tether’s USDT remaining the leading digital dollar globally. The company also launched USAT, a new stablecoin aimed at the U.S. market, in partnership with Anchorage Digital.
With reserves significantly exceeding liabilities and substantial Treasury exposure, Tether enters the next year with robust financial health as indicated by its record profits and growing asset base.(Source)
