The post Tether Reports $13 Billion in Profits, Record US Treasury Holdings appeared on BitcoinEthereumNews.com.

Tether just released its latest financial report, revealing $13 billion in net yearly profits and $113 billion in US Treasury holdings. CEO Paolo Ardoino is looking to the future with new research areas and a proactive approach to potential US stablecoin legislation. Tether’s Report Shows Huge Wins in 2024 Tether, one of the world’s leading stablecoin issuers, reached record growth in 2024. Last December, MiCA severely reduced the firm’s EU operations, but this had little impact on its dominance. USDT continues to dominate the stablecoin market by a large margin, and its yearly financial report reflects the demand. Tether’s latest Attestation Report shows $13 billion in net yearly profits and all-time-high US Treasury holdings. CEO Paolo Ardoino, however, is focused on the future: “In the following months we aim to launch several new products across all Tether pillars: from Artificial Intelligence platforms and apps to telecommunications, from new financial tools and services to broader educational efforts. Thank you very much to everyone for your support. We’re unstoppable together. Nothing else matters,” Ardoino said. Ardoino’s bullish comments reflect a number of changes at Tether. This month, the company relocated its main headquarters to El Salvador after receiving the relevant licenses in that jurisdiction. The report claims that this move will support Tether’s ambition to support financial inclusion and innovation worldwide. Even before today’s financial report was released, there were clear signs that Tether was making huge profits. In December, the firm invested $775 million into Rumble while transferring $700 million worth of Bitcoin to the company’s reserves. At the time, BeInCrypto reported a $10 billion profit surge at Tether, but it overshot this number by a significant margin. “Tether Investments holds $12.5 billion in assets, stablecoin excess reserves account for most of the rest. In 2024 Tether USDT reached the impressive…

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Filed under: News - @ January 31, 2025 6:22 pm