CandleFocus Tether Reports $13B Profit for 2024, With Rising Bitcoin, Gold Prices Contributing
2025-01-31
Author: Content Editor
Tether, the company behind the stablecoin USDT, reported generating $13 billion in net profits in 2021. $7 billion came from U.S. Treasuries and repo holdings, $5 billion from gold and bitcoin appreciation, and $1 billion from other investments. The company disclosed $143.7 billion in assets against $136.6 billion in liabilities, resulting in $7 billion in excess reserves. Tether also increased its bitcoin holdings to approximately 84,000 BTC worth $7.8 billion. Despite its $140 billion market capitalization, Tether has faced regulatory challenges, with some exchanges delisting or suspending USDT due to MiCA regulations. The company plans to relocate its headquarters to El Salvador.
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