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Tether has published its Q4 2024 assurance report, detailing reserve assets backing issued tokens as of December 31, 2024. With an exceptional performance throughout the year, Tether surpassed $13 billion in annual net profit, while its group equity exceeded $20 billion, reinforcing its market leadership and strategic investments.
USDT Issuance Reaches $45 Billion in 2024
A key highlight of Q4 was Tether’s investment in U.S. Treasury bonds, which reached a record $113 billion, making it one of the largest global holders. The company’s excess reserves also surpassed $7 billion, marking a 36% annual increase. In Q4 alone, over $23 billion in USDT was issued, bringing the total for 2024 to $45 billion.
Tether also reported unrealized gains of $5 billion from Bitcoin and gold holdings, with an additional $7 billion from U.S. Treasury bonds and repo agreements. Moreover, Tether International SA de C.V. secured a stablecoin issuer and Digital Asset Service Provider (DASP) license in El Salvador, positioning the country as Tether’s new strategic hub.
As of December 31, 2024, Tether's consolidated assets stood at $157.6 billion, while total liabilities amounted to $137.6 billion. Reserves backing circulating Tether tokens reached $143.7 billion, exceeding token-related liabilities by $7.1 billion. The company also continued investments in renewable energy, Bitcoin mining, AI, telecommunications, and education.
Tether Strengthens Leadership in Financial Transparency and Innovation
Commenting on the report, Tether CEO Paolo Ardoino stated:
“Tether’s Q4 2024 assurance report reinforces our leadership in financial transparency, liquidity, and innovation. With U.S. Treasury holdings surpassing $113 billion, reserve surpluses exceeding $7 billion, and $45 billion in new token issuances, we remain the gold standard for stability and trust in digital assets. Our equity has surpassed $20 billion, while our licensing milestone in El Salvador and transformative investments further solidify our commitment to financial inclusion and resilience.”
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Binance, Crypto.com, Kraken, and other cryptocurrency exchanges continue to include Tether's USDT on their EU platforms weeks before the MiCA final deadline on December 30.

Cryptocurrency exchanges in Europe continue to support Tether's USDt stablecoin, even after Coinbase announced its delisting for European customers to comply with upcoming regulatory requirements.

Major exchanges, including Binance, Crypto.com, and Kraken, have maintained support.

Tether, the company behind USDT, has announced its imminent relocation to El Salvador after receiving a stablecoin issuer license. Paolo Ardoino, CEO of Tether, described this move as a natural progression that will allow the company to strengthen its focus on emerging markets.

Tether Moves to El Salvador to Focus on Emerging Markets
Tether, one of the largest companies in the crypto industry, has revealed it is in the final stages of moving its operations to El Salvador. The decision was taken as the company recently received a Digital Assets Service Provider (DASP) license as a stablecoin issuer, allowing it to conduct its operations in the Latam nation.
Tether stressed that the forward-thinking and crypto-friendly traits of the country’s regulation were key factors behind this action. “The move enhances Tether’s flexibility to explore groundbreaking solutions in a supportive regulatory and business environment,” it stated in a press release.
In addition, this move will allow Tether to concentrate on one of its strongest market targets: developing nations that face problems in reaching dollars through legacy institutions.
Paolo Ardoino, CEO of Tether, highlighted the relevance of this change, stressing that it will allow the company to grow in a new environment.
He declared:
This decision is a natural progression for Tether as it allows us to build a new home, foster collaboration, and strengthen our focus on emerging markets.
Ardoino also praised the development of the nation as a cryptocurrency hub, declaring it represented “a beacon of innovation in the digital assets space.”
El Salvador also benefits from this decision, welcoming an institution that registered billions in revenue during 2024 and is one of the largest private holders of U.S. debt.
The announcement comes on the heels of another milestone for the country, as it announced closing a service deal with Rumble, a video and cloud computing company, to provide cloud services for its government operations. Tether invested $775 million in Rumble in December.
Read more: Video-Sharing Firm Rumble Secures $775 Million Investment From Tether to Drive Growth
As a result, Rumble will open offices in El Salvador and will develop operations in the country with local employees, helping to expand the national economy.

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Tether is facing a make-or-break moment in the EU as MiCA regulations loom closer. If they don’t sort out their licensing issues, customers and exchanges might be forced to look elsewhere.

🛑 The Problem: Licensing Woes

Tether is struggling to align with MiCA compliance, and time is running out.

🌟 The Alternative: Ripple’s RLUSD

RLUSD is already being tested.

Fully MiCA-compliant and could become the go-to stablecoin in Europe.

It’s a strong alternative for those who want to operate within the EU’s regulatory framework.

🧠 Tether’s Move: Innovation & Investment

CEO Paolo Ardoino is pushing to combine AI and blockchain for real-world use cases.

Tether has also invested in StablR, a provider with an E MI license.

StablR’s MiCA-compliant stablecoins, EURR and USDR, might help Tether stay relevant in Europe by boosting liquidity and transaction speeds.

🔥 The Big Question

Can Tether rise to the challenge and meet MiCA regulations, or will Ripple’s RLUSD steal the spotlight?

2024 is shaping up to be a critical year for the stablecoin market in Europe.
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🪙 Stablecoin giant Tether has finally decided to undergo a full financial audit. After years of criticism and suspicion, the company is seeking a Big Four auditor to confirm the backing of its USDT token.
🤵🏻 Tether CEO Paolo Ardoino has said that conducting a full audit is the company’s “top priority.” He believes that the process will be much easier with the support of the new U.S. President Donald Trump, known for his pro-crypto stance.
“If the president of the United States says this is a top priority for the country, the Big Four audit firms are going to listen, so we’re very happy with that,” Ardoino told Reuters on March 21.
❗What is a full audit and why is it important?
Tether currently publishes quarterly reports but does not undergo a full independent annual audit. The difference is significant — a full audit is much more extensive and provides more assurance to investors and regulators.
❗Tether says USDT maintains its stable value by being pegged 1:1 to the US dollar. This means that each USDT token is backed by reserves equal to its circulating supply. These reserves include fiat currency, cash equivalents, and other assets.
❗Interestingly, Ardoino did not specify which of the Big Four audit firms — PricewaterhouseCoopers (PwC), Ernst & Young (EY), Deloitte, or KPMG — the company plans to work with. The Big Four are the four largest global audit and consulting firms.
❗Preparing for a Big Audit
🛂 In preparation for a full-scale financial audit, Tether hired Simon MC Williams as its CFO in early March. It appears the company is serious about improving its reputation with investors and regulators.
And for good reason. Tether’s 2024 profit was a whopping $13.7 billion, making it one of the most successful players in the cryptocurrency market. But with success comes growing demands for transparency.
❗Criticism and Mistrust: Is There Cause for Concern?
In September 2024, Cyber ​​Capital founder Justin Bons expressed serious concerns about Tether’s lack of transparency.
“USDT is one of the biggest existential threats to cryptocurrency. We are forced to believe that they are holding $118 billion in collateral without any evidence! And this is after the (CFTC) fined Tether for lying about its reserves in 2021,” Bons said.
Around the same time, consumer advocacy organization Consumers’ Research published a report criticizing Tether for its lack of transparency.
❗The mistrust is well founded. In 2021, the US Commodity Futures Commission (CFTC) fined Tether $41 million for lying about its USDT reserves.
❗The European regulator is serious.
🛂 Adding to the audit issues are regulatory complications. Tether recently expressed frustration with new European regulations that forced exchanges to delist USDT and nine other tokens to comply with European MiCA requirements.
Tether’s initiative to conduct a full audit could be a turning point for the stablecoin industry. If the largest stablecoin can prove its solvency, it will strengthen trust in digital assets as a whole.
However, the key question remains: are all 118 billion USDT tokens in circulation really backed by real dollars and assets? We will get the answer to this question after the audit is completed.
#SECCryptoRoundtable #USDT #Tether #TetherTreasury #MiCA
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