Tether, the issuer of the world’s most popular stablecoin USDT, has reported a record-breaking $13 billion net profit for 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

CEO Paolo Ardoino clarified that $6 billion was earned in the final quarter alone.

The company’s direct and indirect investments in U.S. Treasury bonds have reached an all-time high of $113 billion.

In Q4 2024, Tether issued $23 billion worth of USDT, bringing total annual issuance to $45 billion, nearly matching Circle’s USDC market cap. Excess stablecoin reserves grew 36% YoY, surpassing $7 billion.

The report was independently verified by BDO, a global auditing firm.

Insane Profits Per Employee

Electric Capital co-founder Avichal Garg suggested that Tether might be the most profitable company per employee—a staggering $85.6 million per person.

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

Ardoino revealed that Tether is expanding beyond stablecoins into AI, telecom, education, and other industries. The company will also continue investing in renewable energy and Bitcoin mining initiatives.

Reminder: Tether recently integrated USDT into the Bitcoin ecosystem, both at the base layer and via Lightning Network.