Business
TETHER Holdings Limited has released its assurance opinion for the fourth quarter of 2024, conducted by BDO, a leading global independent accounting firm. The most recent attestation reaffirms the accuracy of Tether’s Consolidated Reserves Report, CRR, and provides a detailed breakdown of the assets held as reserves for the issued tokens as of December 31, 2024.
Building on the extraordinary performance of 2024, Q4 marked several all-time highs for the company, with yearly net profits exceeding $13 billion. Group equity surged past $20 billion, reflecting the company’s continued dominance and commitment to strategic investments across emerging industries such as renewable energy, Bitcoin mining, AI, telecommunications, and education.
A highlight of the quarter is Tether’s increased exposure to U.S. Treasuries, which reached $113 billion in direct and indirect holdings—another all-time high. This positions Tether among the largest holders of U.S. Treasuries globally, underscoring the company’s commitment to liquidity and stability.
Additionally, Tether’s excess reserve buffer exceeded $7 billion for the first time, marking a 36% yearly increase and solidifying Tether’s unparalleled financial resilience. Q4 also saw the issuance of over $23 billion in USD₮, contributing to a total issuance of $45 billion for 2024 which represents almost the entire market cap of the second largest stablecoin, a number that on its own demonstrates why USD₮ is the most widely accepted and used stablecoin globally.
Tether achieved these milestones while recognizing the performance of its gold and Bitcoin holdings, which generated unrealized profits of approximately $5 billion during the year. Treasuries and repo agreements contributed $7 billion, while other traditional investments of the Group contributed another $1 billion.
In a significant milestone, Tether International SA de C.V. obtained a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, which now serves as the Group’s new headquarters, reinforcing Tether’s mission to drive financial inclusion and innovation worldwide.
The Management of the Company asserts the following as of December 31, 2024:
- The Group’s consolidated total assets amount to $157.6 Billion.
- The Group’s consolidated total liabilities amount to $137.6 Billion
- The Reserves for Tether tokens in circulation amount to $143,704,755,547.
- The liabilities of the companies issuing Tether tokens amount to $136,617,485,006 of which $136,613,782,874 relate to digital tokens issued.
- The value of the assets composing the Reserves as of 31 December 2024 exceeded the value of the liabilities of the companies issuing Tether tokens by $7,087,270,541.
- The Group’s proprietary investments in renewable energy, Bitcoin mining, AI, telecommunications, education, and other sectors are not counted as part of the reserves backing the issued token.
As Tether concludes a record-breaking year, Paolo Ardoino, CEO of Tether, remarked, “Tether’s Q4 2024 attestation reinforces our position as a global leader in financial transparency, liquidity, and innovation. With U.S. Treasury holdings surpassing $113 billion, a reserve buffer exceeding $7 billion, and $45 billion in new token issuance for the year, Tether continues to set the gold standard for stability and trust in the digital assets space. The Group Equity surpassed $20 billion. Our licensing milestone in El Salvador and investments in transformative sectors further highlight our unwavering commitment to driving financial inclusion and resilience.”
1st February, 2025.
C.E.
Tags: TETHER
