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Olumide Adesina•Saturday, February 1, 2025•1 min read
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Tether, the company that issues the dollar-pegged USDT stablecoin, made a record $13 billion in 2024 and now holds a larger-than-ever amount of US government bonds.
Tether’s US Treasury portfolio is valued at about $113 billion. The USDT stablecoin, which Tether claims is backed 1:1 with liquid US dollar-denominated assets, is very popular in the crypto community, reflected in the company’s growing Treasury holdings.
USDT’s total market capitalization was about $137 billion in 2024, marginally less than Tether’s total reserves, which were over $143 billion. The numbers come from an independent accounting firm called BDO’s attestation.
Tether declared that its Treasury reserve was larger than the combined size of all but 17 governments worldwide, including Australia, Germany, and the United Arab Emirates.
Additionally, it owns Bitcoin and gold, which brought in $5 billion for the business in 2024.
Tether has $20 billion in consolidated net equity. Tether issued about $23 billion in USD in the fourth quarter and minted about $45 billion in 2024. USDT is issued and redeemed continuously.
Tether’s headquarters are in El Salvador, where it was granted a license to issue stablecoins and provide digital asset services in 2024. Tether has been reinvesting its earnings in related fields, such as education, peer-to-peer telecommunications technology, data, AI infrastructure, sustainable energy, Bitcoin mining, and neurotech.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
Tether Earns $13 Billion in 2024
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