Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12837
Markets: 99741
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12837
Cryptocurrencies
60.66%
Bitcoin Share
CoinDesk 2025-01-31 15:26:26

Tether Reports $13B Profit for 2024, With Rising Bitcoin, Gold Prices Contributing

Tether Reports $13B Profit for 2024, With Rising Bitcoin, Gold Prices Contributing

Tether, the crypto company behind the largest stablecoin USDT, said on Friday it generated $13 billion group-wide net profits last year in a record-breaking year. Some $7 billion of the profits derived from the firm's vast U.S. Treasuries and repo holdings, and $5 billion from unrealized appreciation of the company's gold and bitcoin (BTC) holdings. Other investments contributed $1 billion. According to the company's latest quarterly attestation signed by accounting firm BDO Italy, the group's stablecoin issuer arms Tether International Limited and Tether Limited disclosed $143.7 billion of assets in reserve against $136.6 billion in liabilities, adding up to $7 billion of excess reserves backing its stablecoins. Treasury bills in the reserve rose to $94.5 billion. The group also increased its bitcoin holdings last quarter for the first time since March, holding nearly 84,000 BTC worth about $7.8 billions as of year-end, according to the attestation. Read more: Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks Tether's USDT is the fourth-largest cryptocurrency with its $140 billion market capitalization, and a key piece of infrastructure for digital asset trading and increasingly popular in developing regions for payments, remittances and savings in U.S. dollars. However, several exchanges have delisted or announced to suspend USDT for EU users recently due to MiCA regulations, spurring a decrease in the token's supply. The firm this year announced plans to move its headquarters to El Salvador, the bitcoin-friendly nation state in Central America that has become an emerging hub for crypto firms under President Nayib Bukele's leadership.

Most Read News



Cryptohopper
Market Cap
24h Vol
60.66%
Bitcoin Share
355
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.