• Tether’s Q4 2024 report, verified by BDO, shows record-breaking financials, with group equity surpassing $20 billion and excess reserves topping $7 billion.
  • The company increased its U.S. Treasury holdings to $113 billion, issued $45 billion in new USD₮, and secured a stablecoin license in El Salvador.

Tether has published its fourth-quarter 2024 assurance opinion, conducted by the global accounting firm BDO. The attestation reaffirms the accuracy of Tether’s Consolidated Reserves Report (CRR) and provides a detailed breakdown of assets held as reserves for issued tokens as of December 31, 2024.

According to the report, Tether recorded annual net profits exceeding $13 billion, with group equity surpassing $20 billion. The company attributed this growth to strategic investments across multiple industries, including renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education.

A notable highlight from Q4 was Tether’s increased exposure to U.S. Treasuries, which reached $113 billion in direct and indirect holdings—marking an all-time high. The company’s excess reserve buffer also crossed $7 billion for the first time, reflecting a 36% annual increase.

Tether reported issuing over $23 billion in USD₮ during the fourth quarter, contributing to a total issuance of $45 billion for 2024. The company stated that its gold and Bitcoin holdings generated approximately $5 billion in unrealized profits, while investments in U.S. Treasuries and repurchase agreements contributed $7 billion.

Additionally, Tether International SA de C.V. secured a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, which now serves as the company’s headquarters. The move aligns with Tether’s stated goal of expanding financial inclusion and innovation.

As of December 31, 2024, Tether’s consolidated total assets stood at $157.6 billion, with total liabilities amounting to $137.6 billion. Reserves backing the issued Tether tokens were reported at approximately $143.7 billion, with liabilities related to token issuance totaling around $136.6 billion. The company also confirmed that its proprietary investments in various sectors are not included in the reserves backing its stablecoins.

Commenting on the report, Tether CEO Paolo Ardoino stated:

“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 latest attestation comes amid ongoing scrutiny of stablecoin issuers, as regulators and market participants closely monitor their financial disclosures and reserve management practices.

Edited by Harshajit Sarmah