Stablecoin Tether Reports Record Profits

Tether Reports Record $13 Billion Profit for 2024

• Tether reported a profit of over $13 billion for 2024, more than doubling its 2023 profit of $6.2 billion.
• Goldman Sachs reported a slightly higher profit of $14.28 billion for the same year.
• Tether holds over $143 billion in fiat assets to cover approximately $137 billion in USDT circulation.
• The market capitalization of Tether’s USDT exceeds $139 billion.
• USDT will soon be available on Bitcoin’s base layer and Lightning network, as announced by CEO Paolo Ardoino.

Tether’s substantial profits and strategic moves, such as expanding USDT to new platforms, underscore its growing influence in the financial sector, closely trailing major Wall Street firms like Goldman Sachs in profitability.