Tether Reports $13 Billion Profit for 2024, Boosts U.S. Treasury Holdings to $113 Billion and Expands to El Salvador

Tether Holdings Limited reported a record-breaking net profit of $13 billion for the year 2024, with $6 billion of that profit generated in the fourth quarter, according to its attestation conducted by BDO.

The company's total assets reached $157.6 billion, with liabilities amounting to $137.6 billion. Tether's reserves for its issued tokens stood at $143.7 billion, exceeding the liabilities of the token-issuing companies by $7.1 billion. The firm's exposure to U.S. Treasuries reached an all-time high of $113 billion in direct and indirect holdings, positioning Tether among the largest holders of U.S. Treasuries globally.

Additionally, Tether's excess reserve buffer surpassed $7 billion, marking a 36% increase year-over-year. The company also issued $45 billion in new USD₮ tokens throughout 2024, contributing to its significant growth. Tether's unrealized gains from gold and Bitcoin holdings, which included nearly 84,000 BTC, contributed $5 billion to the annual profit, while U.S. Treasuries and repo agreements added $7 billion. The company's equity surpassed $20 billion, reflecting its strategic investments in sectors such as renewable energy, Bitcoin mining, AI, telecommunications, and education.

Tether International SA de C.V. obtained a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, marking a significant milestone in its global expansion as it establishes its new headquarters there.

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