2024

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Billion

<p><strong>Key Points:</strong></p>  
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 <li><em>Tether net profits in 2024 surpass $10 billion, fueled by strong demand for its USDT stablecoin.</em></li>  
 <li><em>The company has reinvested more than half of its profits, including a $775 million investment in Rumble.</em></li> 
</ul>  
<h5 class="wp-block-heading">Tether Holdings, the world's largest stablecoin issuer, is on track to close out the year with more than <a href="https://www.bloomberg.com/news/articles/2024-12-21/tether-sees-10-billion-in-net-profits-for-2024" target="_blank" rel="noopener noreferrer nofollow">$10 billion in net profits</a>, according to CEO Paolo Ardoino.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/12/On_White_39_optimized_2000-scaled.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/12/On_White_39_optimized_2000-1024x576.jpg" alt="Tether Net Profits Reach $10 Billion in 2024" class="wp-image-298173"></a>
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<h2 class="wp-block-heading" id="tether-net-profits-reach-10-billion">Tether Net Profits Reach $10 Billion</h2>  
<p>The surge comes as demand for Tether's USDT stablecoin, pegged to the US dollar, has soared alongside the cryptocurrency market's rally.</p>  
<p>The market capitalization of USDT grew this year by almost $50 billion to more than $140 billion, according to CoinMarketCap data. Most of Tether net profits come from investing the reserves that back USDT and other stablecoins into U.S. Treasuries, gold, and securities.</p>  
<p>Ardoino explained that <a href="https://coincu.com/297461-tether-invests-in-stablr-european-stablecoin/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> reinvested over half of its profits for 2024 into different projects. Last week, Tether announced that it was investing $775 million into the video-sharing platform <a href="https://coincu.com/298141-rumble-secures-775-million-tether-investment/" target="_blank" rel="noopener noreferrer nofollow">Rumble</a>, from which $250 million will be in cash. Another $525 million is in support of a tender offer of up to 70 million shares at $7.50 each.</p>  
<p>The Tether CEO stated that the company planned to ensure that by 2025, it invests not less than 50 per cent of Tether net profits, one area being in the field of AI. The company has been scheduled to release its own AI platform within the first quarter, providing access to AI through mobile devices.</p>  
<h2 class="wp-block-heading" id="tether-eyes-us-market-expansion-amid-regulatory-changes">Tether Eyes US Market Expansion Amid Regulatory Changes</h2>  
<p>Apart from technology, Tether has also ventured into businesses such as Bitcoin mining and biotechnology. According to Ardoino, the company is still eyeing the United States for more opportunities, expecting friendlier cryptocurrency regulations under the administration of President-elect Donald Trump.</p>  
<p>At the centre of Tether's U.S. operations is Howard Lutnick, Trump's nominee for Commerce Secretary and head of Cantor Fitzgerald. <a href="https://coincu.com/293673-cantor-fitzgerald-bitcoin-lending-program/" target="_blank" rel="noopener noreferrer nofollow">Cantor Fitzgerald</a>, which <a href="https://coincu.com/293593-cantor-fitzgerald-acquire-5-interest-in-tether/" target="_blank" rel="noopener noreferrer nofollow">holds a stake in Tether</a> and manages its reserves, is reportedly discussing strengthening financial ties with the company. Plans for a lending program are also under consideration.</p>  
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Tether Net Profits Reach $10 Billion in 2024

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