Tether reported a net profit of $ 13 billion in 2024, which is powered by its businesses, which includes releasing the largest Stabelcoin USDT in the Crypto market.
Tether, Crypto’s largest stabechoin (USDT) issuer earned a profit of $ 13 billion last year amidst increasing digital asset adoption and a new all-time high in US Treasury Bills was organized as a reserve for its token .
On Friday, January 31, the company’s quarterly verification be provided A new record by independent accounting firm BDO Italia showed T-Bill worth $ 94.5 billion. Tithi availed $ 7 billion in benefits from his US Treasury Holdings and $ 5 billion in Bitcoin (BTC) and gold investment of $ 5 billion in unrealistic income.
At the end of the previous year, Tedhar increased his bitcoin holdings to about 84,000 bitcoins, priced at around $ 8 billion. It marked the purchase of its first bitcoin since March. The remaining $ 1 billion profits came from other investments, which was according to verification.
Tithi operates USDT, which is a major stabelcoin with market capitalization of $ 140 billion. This makes the company a prominent player in the crypto transaction. According to an American Treasury study, more than 80% of the crypto transaction includes a stabelin, such as USDT.
Despite its importance, the USDT and its issuer face challenges in European markets due to regulatory changes. Tether has struggled to follow the European Union markets in the Crypto Assets Regulation Framework, leading to a decline in trust between exchanges.
Many platforms, including coinbase, have removed the pending changes in compliance with USDT for European users.
Tedhar has converted his operations to Al Salvador after obtaining a crypto license from Bitcoin country. The unit plans to set up an headquarters in the BTC nation and invest more resources in artificial intelligence.
