EddieJayonCrypto

 1 Feb 25

tl;dr

Tether disclosed holding 83,758 BTC and generating a $13 billion profit in 2024. The company reported $7.8 billion in Bitcoin holdings in Q4, leading to a $13 billion profit for the year. An assurance opinion by BDO indicated $5 billion in unrealized profits from gold and Bitcoin holdings. Tether's ...

Tether, the cryptocurrency company, revealed a staggering $13 billion profit in 2024, driven by $7.8 billion in Bitcoin holdings and $45 billion USDT issuance. The company's total assets reached $157.6 billion, with reserves surpassing liabilities by $7 billion.

In Q4, Tether reported 83,758 BTC, contributing to the $13 billion annual profit. BDO's assurance opinion indicated $5 billion in unrealized profits from gold and Bitcoin holdings. Tether's exposure to US Treasuries reached $113 billion, with Q4 net profits increasing by $5.3 billion.

CEO Paolo Ardoino announced plans to launch new products and relocate Tether's headquarters to El Salvador, emphasizing stability and trust in digital assets. The company issued over $45 billion in USDT in 2024 and partnered with LayerZero for multichain interoperability.

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 1 Feb 25
 1 Feb 25
 1 Feb 25