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COINTURK NEWS > Tether (USDT) > Tether Triumphs with Record Growth and Financial Strength in 2024
Tether (USDT)

Tether Triumphs with Record Growth and Financial Strength in 2024

In Brief

  • Tether showcases remarkable financial growth with record reserves and profits.

  • USDT circulation increased significantly, indicating enhanced market liquidity.

  • Tether maintains a strong position in the digital asset landscape with transparency and stability.

Fatih Uçar
Fatih Uçar 4 months ago
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Tether, the world’s largest stablecoin, has managed to remain resilient despite years of various controversies. Recent panic among investors due to the EU ban has not deterred Tether’s stability. Those who succumbed to fear became victims of short-term debates.

Contents
Tether’s Impressive 2024 ReportUSDT Sees Significant Growth

Tether’s Impressive 2024 Report

The company announced the completion of a reserve audit by the globally renowned auditing firm BDO. This report is now accessible on their official website. The year 2024 witnessed extraordinary performance, with the last quarter surpassing annual net profits of $13 billion, marking it as the largest earnings period ever.

Tether’s equity has exceeded $20 billion, with increasing investments in emerging sectors such as renewable energy, Bitcoin $106,294 mining, artificial intelligence, telecommunications, and education. A notable highlight from the last quarter of 2024 is the company achieving a record $113 billion in U.S. Treasury bond assets.

USDT Sees Significant Growth

In the last quarter, the circulating supply of USDT increased by $23 billion, indicating more liquidity entering the markets. While we haven’t observed a significant rise in altcoin prices, the demand for USDT is noteworthy. Throughout 2024, the total issuance of USDT rose by $45 billion, nearly equating to the total value of the second-largest stablecoin.

Tether’s total assets amount to $157.6 billion, with a total reserve obligation for circulating USDT tokens at $137.6 billion. The total reserve held for circulating USDT is $143.7 billion.

CEO Paolo Ardoino stated that Tether’s confirmation for the last quarter of 2024 strengthens its position as a global leader in financial transparency, liquidity, and innovation. With U.S. Treasury assets surpassing $113 billion, a reserve surplus exceeding $7 billion, and $45 billion in new token issuance throughout the year, Tether continues to set the gold standard for stability and trust in digital assets.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 31 January, 2025 - 8:35 pm 31 January, 2025 - 8:35 pm
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