Tether, the issuer of the USDT stablecoin, reported over $13 billion in profit for 2024, more than doubling its 2023 profit of $6.2 billion. This groundbreaking milestone positions Tether’s performance alongside that of major financial firms, such as Goldman Sachs. The company also disclosed it holds over $143 billion in reserve assets to support the stablecoin's value. Tether's USDT remains the most popular stablecoin, with a market capitalization exceeding $139 billion. The issuer's strategy includes maintaining significant fiat collateral, primarily through U.S. Treasuries, generating substantial interest income. Tether's CEO, Paolo Ardoino, emphasized the company's commitment to financial transparency and innovation. Additionally, it was announced that USDT will soon be available on Bitcoin’s base layer, marking a significant integration that solidifies Tether's role in the digital asset ecosystem. However, the company's rapid growth has attracted scrutiny, particularly concerning the lack of external audits verifying its fiat reserves. Tether's ongoing success underscores its pivotal role in bridging traditional finance and the expanding cryptocurrency market.

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