Tether’s 2024 Financial Performance

Tether’s profits for 2024 surpassed $13 billion, according to a fourth-quarter and year-end attestation published Friday reviewed by BDO. CEO Paolo Ardoino noted Tether generated $6 billion in profit for Q4.

Tether’s direct and indirect exposure to U.S. Treasurys reached a record high of $113 billion. In Q4 2024, it issued $23 billion in USDT, culminating in a year-end total of $45 billion. The firm’s excess reserve buffer surpassed $7 billion, reflecting a 36% increase over the past year.

After discussing the firm’s performance, Ardoino shared on X that Tether plans to launch new products across various sectors, including artificial intelligence, telecommunications, and education.

Despite regularly releasing attestations of its quarterly performance, Tether faced scrutiny regarding its reserve backing and USDT’s alleged involvement in illicit finance, as reported by The Block.

Tether is the largest USD-pegged Ethereum-based stablecoin by market share, with $55.5 billion in 24-hour trading volume, according to The Block’s USDT Price Page.