Tether's Profit Reaches $13 Billion in 2024 as U.S. Treasury Holdings Hit Record Highs

PANews, Jan. 31 (Bloomberg) -- Tether has released its fourth quarter 2024 report, showing annual net profit of more than $13 billion and the group's equity surpassing $20 billion. In the fourth quarter, U.S. Treasury holdings reached $113 billion, surpassing the all-time record, making Tether one of the largest holders of U.S. Treasuries in the world. At the same time, Tether's excess reserves exceeded $7 billion for the first time, an annual increase of 36%.