Tether posts $2.5B in Q3 profits, with 2024 earnings reaching $7.7B

Tether’s consolidated profit in 2024 has reached $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion. 

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Stablecoin issuer Tether has delivered another quarter of record-breaking earnings, posting $2.5 billion in profits in the third quarter of 2024. 

According to its attestation report published on Oct. 31, the company’s consolidated profit in 2024 is now at $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion. 

Behind the results is the demand for its USDt (USDT) stablecoin and yields on United States Treasury bonds that back its reserves. USDT’s circulation has grown nearly 30% in 2024, with an additional $27.8 billion worth of tokens issued this year — totaling $120 billion USDT in circulation. 

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