Stablecoin Giant Tether Reports Record Profits Ahead of Bitcoin Rollout

Decrypt 8 months ago 262

Tether, the world’s largest stablecoin issuer, reported over $13 billion in profit for 2024 on Friday, marking a groundbreaking milestone for the crypto firm.

In just a year, Tether has apparently managed to more than double its then-astonishing 2023 profit of $6.2 billion.

For context, the upstart crypto company’s profitability is now within striking distance of some of Wall Street’s most prestigious firms. Earlier this month, Goldman Sachs reported a 2024 profit of $14.28 billion—within 10% of the earnings posted by Tether this morning.

Tether Hits $13 Billion Profits for 2024 And All-Time Highs in U.S. Treasury Holdings, USD₮ Circulation, and Reserve Buffer in Q4 2024 Attestation
Read more: https://t.co/1CRfIK5XR0

— Tether (@Tether_to) January 31, 2025

As stablecoins have come to prominence in the global economy—as an increasingly crucial link between traditional finance and the booming crypto market—Tether has reaped the greatest rewards. The firm’s ...

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