The issuer of the world's largest stablecoin USDT is the company Tether presented reported record profit of $13 billion for 2024 and said it had increased its holdings of U.S. Treasury bonds to $113 billion.
According to the document provided, the total market capitalization of USDT at the end of December 2024 was $137 billion, and the company's reserves exceeded $143 billion.
The auditors at BDO, who reviewed the report, said that Tether has a consolidated net worth of $20 billion. Last year, the company issued $45 billion in USDT backed by liquid assets.
The report emphasizes that Tether continues to further diversify its business by investing in energy, bitcoin mining, artificial intelligence and telecommunications.
At the same time, despite the good financial results, USDT's market share fell to 65% amid growing competition with other stablecoin market participants, CCData data shows.
Analysts believe that the weakening position Tether is due to regulatory uncertainty in the EU caused by the implementation of the MiCA regulation, which tightens the requirements for the circulation of stablecoins.
