Last year was a great one for the cryptomarket, which saw strong price increases, including Bitcoin who first break the $ 100,000. Now that Donald Trump won the elections and the first American president became an advocate of cryptocurrency, many crypto-related companies earned considerable profit. Among them, Tether, the company behind the largest Stablecoin, USDT, today announced that it made a record of $ 13 billion in net profit last year.
Tether has spent more than $ 23 billion USDT in Q4
Tether Holdings Limited has published The fourth quarter Assurance Report for 2024, prepared by BDO, a global global independent accountancy firm. The latter verification confirms the accuracy of Tether’s Consolidated Reserves Report (CRR) and details the assets held in reserve for the tokens issued on December 31, 2024.
After a strong year, the fourth quarter of Tether saw different record highs reached. The annual net profit from the company increased after $ 13 billion and the group ceremony increased by more than $ 20 billion. This growth shows the dominance of Tether and its investments aimed at rising sectors such as renewable energy, bitcoin -mining, AI, telecommunications and education.
Also read: Tether is extending USDT to Bitcoin and Lightning Network
An important highlight from the quarter is the increased investment of Tether in American treasuries, which reached a record high of $ 113 billion in direct and indirect companies. This makes Tether one of the greatest worldwide holders of American treasury.
Moreover, Tether’s Reserve Buffer was $ 7 billion for the first time, an increase of 36% during the year.
The fourth quarter Tether also saw more than $ 23 billion in USDT, which resulted in a total of $ 45 billion for the year. This total issue is almost the same as the entire market capitalization of the second largest Stablecoin USDC.
Bitcoin’s ATH brings billions of profit for Tether
Tether reached these milestones and also received benefits of his investments in gold and rising Bitcoin prices, which did not see -realized profit of around $ 5 billion for the year. In addition, investments in treasuries and repurchase agreements wore $ 7 billion and other traditional investments added another $ 1 billion.
Tether increased his Bitcoin Holdings last quarter for the first time since March, with almost 84,000 BTC with a value of around $ 7.8 billion at the end of the year, according to the certificate.
Tether’s USDT ranks as the fourth largest cryptocurrency with a market capitalization of $ 140 billion. It is a crucial part of the crypto -activa -trade infrastructure and is becoming increasingly popular in developing areas for making payments, sending transfers and saving in US dollars.
Also read: crypto.com to remove Tether on January 31, 2025: What it means for USDT
Due to the new MICA instructions in the EU, however, various USDT fairs have removed or announced plans to stop offering EU users, which has led to a decrease in the supply of token.
This year the company also announced its plans to move its head office to El Salvador. This Central American country, led by the Bitcoin-friendly President Nayib Bukele, will be a growing hub for cryptomabins.
