Tether Doing A Self Audit? We have investigated ourselves, and found no signs of any wrongdoing. 🤣
Highlights as of 31st December 2024:
- $13.7 billion profit for year 2024
- ~$6 billion profit for Q4 2024
- $113 billion in direct and indirect holdings
- $7 billion in Tether's excess stablecoin reserves (36% increase YoY), on top of the 100% reserves in liquid assets that back all issued tokens
- $23 billion USDt issued in Q4 2024
- Total issuance of $45 billion USDt for year 2024 which represents almost the entire market cap of the second largest stablecoin
Tether Group proprietary equity surged past $20 billion. Tether Investments holds ~$12.5 billion in assets, stablecoin excess reserves account for most of the rest.
In 2024 Tether USDt reached the impressive milestone of 400 million users globally, mostly distributed among emerging markets and developing countries.
Tether’s efforts in ensuring a safe and secure secondary market ecosystem for USDt and crypto in general grew even further over 2024. Our internal investigation team, best in class in the financial industry, collaborated with more than 230 law enforcement agencies across 50+ countries.
In 2024, Tether invested in talent across all different strategic areas of the company, still retaining a lean team, promoting quality over quantity.
In the following months we aim to launch several new products across all Tether pillars: from Artificial Intelligence platforms and apps to telecommunications, from new financial tools and services to broader educational efforts.
Thank you very much to everyone for your support. We're unstoppable together.
Nothing else matters.
https://x.com/paoloardoino/status/1885345499600781421