Overview of Tether’s Financial Performance
Tether, a leading digital asset company, reported impressive financial results for the fourth quarter of last year. The company’s strategic investments in Bitcoin and gold contributed significantly to its overall profitability.
Bitcoin Holdings and Profits
- Tether reported $7.8 billion in Bitcoin holdings in Q4 2024.
- This boosted the company’s profits to over $13 billion for the year.
- The informed price of $93,812 puts Tether’s Bitcoin stash at 83,758 BTC.
Financial Growth and Investments
- The firm’s profits increased by $5.3 billion in the fourth quarter.
- Gold and Bitcoin holdings generated approximately $5 billion in unrealized profits.
- Tether’s exposure to US Treasuries reached $113 billion in 2024.
- Net profits exceeded $13 billion for the year with a 36% annual increase.
Total Assets and Liabilities
Tether reported total consolidated assets of $157.6 billion and total liabilities of $137.6 billion. The reserves for issued Tether tokens amounted to $143.7 billion, surpassing liabilities by over $7 billion.
CEO’s Comments and Future Plans
- CEO Paolo Ardoino emphasized Tether’s commitment to stability and trust in the digital assets space.
- The company secured a Digital Asset Service Provider (DASP) license in El Salvador.
- Tether plans to launch new products in AI, telecommunications, finance, and education.
Significant Growth in USDT Stablecoin
In 2024, Tether issued over $45 billion of its USDT stablecoin, with $23 billion in the fourth quarter alone. The company’s focus on expanding the USDT user base led to significant growth and adoption.
Partnerships and Innovations
- Tether partnered with LayerZero to deploy USDT0 stablecoin for multichain interoperability.
- USDT’s total supply reached nearly $143 billion, representing 66.4% of the stablecoin market.
- Total transfer volume of USDT surpassed $10 trillion in 2024.