Tether Reports $13 Billion Profit in 2024 and Expands USDT to Bitcoin Network

The stablecoin leader announces record-breaking earnings and plans to integrate its USDT token with Bitcoin's base layer and Lightning Network.

Tether achieved a record $13 billion profit in 2024, driven by U.S. Treasury yields and asset appreciation in Bitcoin and gold.
The company disclosed $143.7 billion in reserves, including $94.5 billion in Treasury bills, ensuring a $7 billion excess reserve buffer for its $136.6 billion in liabilities.
Tether is launching its USDT stablecoin on Bitcoin's base layer and the Lightning Network, enabled by the Taproot Assets protocol developed by Lightning Labs.
The integration aims to enhance global remittances and payments by combining Bitcoin's security with Lightning's speed and scalability.
Tether's growing influence has drawn scrutiny, with U.S. lawmakers raising concerns about the lack of independent audits of its reserves.