Tether Reports $13 Billion in Net Profit

Tether, the issuer of the most popular stablecoin USDT, has announced a record net profit of $13 billion for the year 2024.

Tether Hits $13 Billion Profits for 2024 And All-Time Highs in U.S. Treasury Holdings, USD₮ Circulation, and Reserve Buffer in Q4 2024 Attestation
Read more: https://t.co/1CRfIK5XR0

— Tether (@Tether_to) January 31, 2025

The company’s head, Paolo Ardoino, clarified that $6 billion was earned in the last quarter alone.

Direct and indirect investments by the company in U.S. Treasury bonds reached a record level of $113 billion.

In the fourth quarter of 2024, Tether issued $23 billion in USDT, increasing the total issuance to $45 billion by the year’s end, comparable to the capitalization of Circle’s USDC. Excess stablecoin reserves grew by 36% over the year, exceeding $7 billion.

The report was verified by the independent auditing firm BDO.

A Colossal Figure

Avichal Garg, co-founder of Electric Capital, suggested that Tether is the most profitable company in the world per employee, with a figure of $85.6 million.

Tether is likely the most profitable company in the world per employee.

Goldman Sachs — $288,172 profit per employee
Meta Platforms — $455,586
Apple — $571,341
NVIDIA — $1,006,757
Tether — $85,625,000 profit per employee

It just looks silly when you graph it pic.twitter.com/a3qSbrxvIK

— Avichal — Electric ϟ Capital (@avichal) January 31, 2025

For comparison:

• Goldman Sachs — $288,172;
• Meta Platforms — $455,586;
• Apple — $571,341;
• NVIDIA — $1,006,757.

According to Ardoino, the company plans to launch new products in artificial intelligence, telecommunications, education, and other areas. Projects in renewable energy and bitcoin mining will continue to develop.

Earlier, Tether integrated USDT into the Bitcoin ecosystem at both the base level and in the Lightning Network.