It was reported that Tether made $ 13 billion in profits in 2024

Source Stablecoin pregnancy He says he achieved $ 13 billion in profits during the year 2024.

This “eye” shape-as I put Bloomberg’s news in A. a report Friday (January 31)-The company that is closely controlled in the same company will be placed Goldman Sachs. Last year, the Giant Wall Street reported $ 14.3 billion of net income, with $ 53.5 billion in revenues.

Bloomberg said that Tether does not issue review financial statements – a practice, as Bloomberg said, and it has sparked criticism from the organizers and the coding sector monitors. Instead, the company provides quarterly information as part of the third -party witness by the BDO Accounting Company.

The company said it had issued more than 23 billion dollars in US in the past three months of 2024, and has more than $ 7 billion in excess reserves.

The Bloomberg report indicated that the rope ended in the spotlight this week during the confirmation session Howard LootnickPresident Donald Trump’s candidate for the Secretary of Commerce.

Lootnick president Cantor FitzgeraldOne of the banking partners in Tether. During the session, Senate members told that USDT amounted to $ 143 billion, amid the prosperous demand for Stablecoins. Cantor Fitzgerald has a convertible bond with Tether, and Lutnik said that Stablecoins in dollars should undergo audits.

The success of Tether appears at a time when Stablecoins is increasingly creative as a bridge between traditional financing and the crying world of cryptocurrencies, began to change this dynamic. books Earlier this month.

A recent report issued by the Federal Reserve in Atlanta said that while the future of Stablecoins K. payment method It is still not specified, they can one day adopt credit or discount cards, with Stablecoin’s market value “similar to the GDP of countries such as New Zealand or Greece.” In addition, retailers such as Overstock, Chipotle, Whole Foods and Gamestop began to accept Stablecoins.

Unlike the usual Rollercoasser of value fluctuations, Stablecoins brings an alleged dose of stability to the digital currency game, and at the same time you are able to work as a value store, a method of exchange and account unit, “PYMNTS Books.

Blockchain’s growing embrace of financial services and payments can be seen in the strong interest between Traditional financial companiesWith Bank of America, he has more than 80 patents related to Blockchain, banking giants such as HSBC, Barclays, JP Mortan Chase and UBS participating in banking pilots stationed in Stablecoin.