Catenaa, Friday, February 07, 2025 – Tether, the world’s largest stablecoin issuer, reported a record $13 billion in net profits for 2024, according to its latest financial attestation released Friday.
The firm, reviewed by independent accounting firm BDO, posted $6 billion in profit in the fourth quarter alone.
The company’s exposure to U.S. Treasurys reached an all-time high of $113 billion, while its excess reserve buffer climbed 36% year-over-year to surpass $7 billion. Tether also issued $23 billion in USDT in Q4, bringing its total for the year to $45 billion.
The company stated on social media that Tether had plans to expand beyond stablecoins, launching products in artificial intelligence, telecommunications, and education.
Despite its financial growth, The company has faced regulatory scrutiny over its reserve backing and alleged use in illicit finance.
The stablecoin saw a 24-hour trading volume of $55.5 billion as of publication, according to The Block’s data.
