Tether, the world’s largest stablecoin issuer, reported over $13 billion in profit for 2024 on Friday, marking a groundbreaking milestone for the crypto firm. 

In just a year, Tether has apparently managed to more than double its then-astonishing 2023 profit of $6.2 billion. 

For context, the upstart crypto company’s profitability is now within striking distance of some of Wall Street’s most prestigious firms. Earlier this month, Goldman Sachs reported a 2024 profit of $14.28 billion—within 10% of the earnings posted by Tether this morning.

As stablecoins have come to prominence in the global economy—as an increasingly crucial link between traditional finance and the booming crypto market—Tether has reaped the greatest rewards. The firm’s dollar-backed stablecoin,

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Author: Sander Lutz

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