{"id":10727,"date":"2025-01-31T15:33:14","date_gmt":"2025-01-31T15:33:14","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10727"},"modified":"2025-01-31T15:33:14","modified_gmt":"2025-01-31T15:33:14","slug":"tether-reports-13b-profit-for-2024-with-rising-bitcoin-gold-prices-contributing","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10727","title":{"rendered":"Tether Reports $13B Profit for 2024, With Rising Bitcoin, Gold Prices Contributing"},"content":{"rendered":"<div>\n<p>Tether, the crypto company behind the largest stablecoin USDT, <a href=\"https:\/\/tether.io\/news\/tether-hits-13-billion-profits-for-2024-and-all-time-highs-in-u-s-treasury-holdings-usd%E2%82%AE-circulation-and-reserve-buffer-in-q4-2024-attestation\/\" target=\"_blank\">said<\/a> on Friday it generated $13 billion group-wide net profits last year in a record-breaking year.<\/p>\n<\/p>\n<p>Some $7 billion of the profits derived from the firm&#8217;s vast U.S. Treasuries and repo holdings, and $5 billion from unrealized appreciation of the company&#8217;s gold and bitcoin (BTC) holdings. Other investments contributed $1 billion.<\/p>\n<\/p>\n<p>According to the company&#8217;s latest quarterly attestation signed by accounting firm BDO Italy, the group&#8217;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.<\/p>\n<\/p>\n<p>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.<\/p>\n<\/p>\n<p>Read more: <a href=\"https:\/\/www.coindesk.com\/business\/2025\/01\/30\/tether-brings-its-usd140b-usdt-stablecoin-to-bitcoin-and-lightning-networks\" target=\"_blank\">Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks<\/a><\/p>\n<\/p>\n<p>Tether&#8217;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, <a href=\"https:\/\/www.coindesk.com\/policy\/2024\/10\/04\/coinbase-to-delist-unauthorized-stablecoins-in-eu-by-december\" target=\"_blank\">several<\/a> <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/01\/29\/crypto-com-will-suspend-tether-paypal-stablecoin-services-in-europe-due-to-mica\" target=\"_blank\">exchanges<\/a> have delisted or announced to suspend USDT for EU users recently due to MiCA regulations, spurring a <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/01\/02\/tethers-market-value-sees-sharpest-decline-since-ftx-crash-as-mi-ca-kicks-in\" target=\"_blank\">decrease<\/a> in the token&#8217;s supply.<\/p>\n<\/p>\n<p>The firm this year announced plans to <a href=\"https:\/\/www.coindesk.com\/business\/2025\/01\/13\/tether-group-to-establish-headquarters-in-el-salvador-in-emerging-markets-push\" target=\"_blank\">move its headquarters<\/a> to El Salvador, the bitcoin-friendly nation state in Central America that has become an emerging hub for crypto firms under President Nayib Bukele&#8217;s leadership.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;s vast U.S. Treasuries and repo holdings, and $5 billion from unrealized appreciation of the company&#8217;s gold and bitcoin (BTC) holdings. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10727","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10727"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10727\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}