- Tether reported $13B in 2024 profits, with US Treasury holdings reaching $113B, reinforcing USDT’s stability.
- USDT’s market dominance fell to 65% as USDC gained traction, reaching a $52B market cap by end of 2024.
- Tether secured a digital asset license in El Salvador, expanding its presence in Latin America’s crypto market.
Tether announced a record profit of $13 billion for 2024. The company credited strong market demand for stablecoins. Its financial report highlights continued growth and stability in the digital asset market.
Tether’s US Treasury Holdings Reach $113 Billion
Tether’s investment in US government bonds has reached $113 billion. The company stated that these holdings reinforce USDT’s liquidity and stability. Tether’s global market demand triggers this growth pattern.
The company declared its US Treasury holdings surpass the holdings of numerous major economies.. It compared its reserves to countries like Germany and the United Arab Emirates. Tether continues to expand its financial assets to support market confidence.
USDT Issuer Strengthens Presence in El Salvador
Tether secured a stablecoin issuer and digital asset license in El Salvador. This move reinforces its commitment to regulatory compliance. The company aims to expand its presence in Latin America’s crypto market.
The El Salvador license allows Tether to operate legally within the country. This approval aligns with the nation’s support for Bitcoin and blockchain technology. The company continues to seek new markets for its financial products.
Market Dominance Declines in 2024
Despite strong financial performance, USDT’s market dominance dropped to 65%. The decline occurred as competitors like USDC gained traction. Data from CCData confirmed this shift in stablecoin market share.
USDC’s market capitalization rose to $52 billion by the end of 2024. The stablecoin gained popularity on networks like Solana. Regulatory concerns surrounding Tether’s compliance with European rules contributed to this trend.
Tether Faces Rising Competition from USDC
USDT still dominates centralized exchanges, holding 82% of the market. However, competition from rival stablecoins continues to grow. Decentralized finance platforms show increased interest in alternative stablecoins.
Tether may need to improve its compliance measures to retain its market lead. Increased transparency and asset-backed reserves will help maintain investor trust. The company remains focused on stability and long-term growth.
