Unreal! Tether Rakes in $13B Thanks to Bitcoin & Gold 🚀

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Can you believe it? Tether, the stablecoin kingpin, just printed $13 billion in profit for 2024. All thanks to Bitcoin and gold going gangbusters. 🤑 They made $6 billion in the last quarter alone! Total assets? A whopping $143.7 billion. And guess what? Excess reserves ballooned to $7 billion. 🎉

Now, this isn’t just any old accounting magic. BDO Italy verified it. Yep, a big chunk of that dough came from U.S. Treasuries and those sweet, sweet unrealized gains on Bitcoin and gold. Oh, and they upped their Bitcoin stash to almost 84,000 BTC by year-end. Not bad for a stablecoin issuer, huh? 😎

How Bitcoin & Gold Fueled Tether’s Fortune 🍀

So, where did all that money come from? Well, let’s just say Bitcoin and gold had a lot to do with it. Around $5 billion came from these assets appreciating like there’s no tomorrow. The rest? Returns on U.S. Treasuries and repurchase agreements. 💰

And get this – in Q4 2024, Tether beefed up its Bitcoin holdings for the first time since March. By December, they were sitting on about 84,000 BTC, worth roughly $7.8 billion. Their U.S. Treasury holdings? A cool $94.5 billion. That’s some serious asset padding right there. 🏋️‍♂️

USDT: The Stablecoin That Just Keeps Growing 📈

USDT issuance in 2024 was off the charts. They issued $45 billion worth of tokens throughout the year. Just in the last quarter, they minted $23 billion in new USDT. Impressive, right?

USDT’s total market cap hit $140 billion, making it the fourth-largest cryptocurrency. And look at that user base – 400 million strong, with most growth happening in developing regions. Tether’s got big plans for expanding USDT’s role in payments, remittances, and savings. 🌍

Regulatory Headaches and Europe‘s Cold Shoulder ❄️

But wait, there’s a catch. Tether’s facing regulatory speed bumps, especially in Europe. Thanks to the EU’s MiCA regulations, USDT got the boot from several exchanges. Crypto.com said “adios” to USDT and nine other tokens on its European platform by January 31, 2025.

To play ball in the European Economic Area (EEA), stablecoins need an e-money license. Tether doesn’t have one, so they’re getting extra attention. Coinbase and others delisted USDT in 2024 for the same reason. Users have until March 31, 2025, to swap USDT for MiCA-approved assets. 📋

Tether’s Next Moves: AI, Telecom, and More 🌟

Tether’s not just resting on its laurels. They’re eyeing new industries in 2025, like AI, telecom, and financial services. And here’s the kicker – they’re integrating USDT with Bitcoin’s Lightning Network to supercharge crypto payments and remittances. 🚀

Tether’s CEO, Paolo Ardoino, is all about innovation. He says they’re focused on delivering fast, reliable solutions for remittances, payments, and more. With Lightning Network integration, expect faster USDT transactions and lower fees. Global users, rejoice! 🎉

Oh, and rumor has it, Tether’s planning to relocate its headquarters to El Salvador as part of its expansion strategy. Stay tuned for more updates! 🌴

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2025-01-31 22:53