Tether’s consolidated profit in 2024 has reached $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion.
Stablecoin issuer Tether has delivered another quarter of record-breaking earnings, posting $2.5 billion in profits in the third quarter of 2024.
According to its attestation report published on Oct. 31, the company’s consolidated profit in 2024 is now at $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion.
Behind the results is the demand for its stablecoin Tether (USDT) and yields on US Treasury bonds that back its reserves. USDT’s circulation has grown nearly 30% in 2024, with an additional $27.8 billion worth of tokens issued this year— totaling $120 billion USDT in circulation.
