Stablecoin Giant Tether has recorded a record profit worth $ 13 billion for 2024, more than twice its profits of $ 2023 at a value of $ 6.2 billion, putting the company’s profitability in the range of 10 % of Goldman Sachs, which recorded $ 14.28 billion in profit in the same year.
Tether reaches 13 billion dollars for profits 2024 and its highest levels ever in the US Treasury Department, the American League, and a temporary store in Q4 2024
Read more: https://t.co/1crfik5xr0– Tether (tether_to) January 31, 2025
Paulo Erdino, CEO of Tether: Commenting:
Tether Q4 2024 is strengthening our site as a global pioneer in financial transparency, liquidity and innovation. With the United States, Holdings exceeds $ 113 billion, a reserve institution exceeding $ 7 billion, and 45 billion dollars in issuing the new distinctive code for this year, Tether continues to set the gold standard for stability and confidence in the area of ​​digital assets.
Tether usdt dominates the Stablecoin market
The USDT is still the dominant power in the Stablecoin sector with a market formation of $ 136 billion, which exceeds the USDC from Circle, which owns only a third of USDT size, $ 53 billion.
Stablecoin Market Cap Pie. source: Devilia
COININCO data shows that the maximum USDT market has already increased to $ 140 billion in January, or an additional $ 4 billion in a new USDT version in just one month.
On this topic, Usdt can now be accessed on the Lightning Bitcoin network, a bitcoin expansion, and a central network. This integration is expected to expand the Blockchain benefit in transfers, fine transactions, and cross -border payments.
Read more: GrayScale files to study Spot XRP ETF on NYSE
According to the company, USDT will be a process on the basic Bitcoin layer and the Lightning network. This step was enabled by Taproot assets, a protocol developed by Lightning Labs, in an attempt to enhance Bitcoin’s expansion and speed and ease of use in financial transactions.
All of these developments come amid a series of bad news that sweep the company, including deleting the USDT code on Crypto.com due to the laws of mica in the European Union.
Tether also dropped EURT support where the MICA regulations were completely applied in Europe, which led to many Crypot’s exchange for a license in Malta.
