Tether Holdings Limited, the issuer of USDT, has once again demonstrated its dominance in the stablecoin market with impressive business results for 2024.
In the past year, the crypto company reported a net profit exceeding $13 billion with only 100 employees, according to Crypto Times. With such a “massive” profit, each employee at Tether generated $130 million in profit, far outpacing many other global corporations.
This highlights Tether’s exceptional performance and profitability compared to top financial and tech companies worldwide.
In Q4 2024, Tether increased its investment in U.S. government bonds, reaching an all-time high of $113 billion in direct and indirect holdings. This makes Tether one of the largest creditors of the United States.
In 2024, Tether’s reserves surpassed $7 billion for the first time, a 36% increase from the previous year.
In the final quarter of 2024, Tether issued over 23 billion USDT, bringing the total issuance for the entire year to around $45 billion. This total issuance is nearly equivalent to the entire market capitalization of the second-largest stablecoin, USDC.
This year, the company also announced plans to relocate its headquarters to El Salvador, a Central American country with Bitcoin-friendly policies that is rapidly becoming a hub for crypto companies.
Tether’s USDT is ranked as the fourth-largest cryptocurrency with a market cap of $140 billion. It is a key part of the cryptocurrency asset trading infrastructure and is becoming increasingly popular in developing regions for payments, remittances, and savings in USD.
However, due to the new MiCA regulations in the EU, some exchanges have announced plans to stop offering USDT to EU users.
