Tether reported a net profit of $13 billion in 2024, driven by its businesses, including the issuance of USDT, the largest stablecoin in the crypto market. Tether, the issuer of crypto’s biggest stablecoin ( USDT ), generated $13 billion in profits last year amid soaring digital asset adoption and a new all-time high in U.S. Treasury Bills held as reserves for its token. On Friday, Jan 31, the company’s quarterly attestation provided by independent accounting firm BDO Italia showed $94.5 billion worth of T-Bills, a new record. Tether generated $7 billion in profits from its U.S. Treasury holdings and another $5 billion in unrealized earnings from Bitcoin ( BTC ) and gold investments. Late last year, Tether increased its Bitcoin holdings to approximately 84,000 Bitcoin, valued at nearly $8 billion. This marked its first Bitcoin purchase since March. The remaining $1 billion in profits came from other investments, according to the attestation. You might also like: Coinbase would delist Tether if necessary: WSJ Tether operates USDT, the dominant stablecoin with a market capitalization of $140 billion. This makes the company a key player in crypto transactions. According to a U.S. Treasury study, over 80% of crypto transactions involve a stablecoin, such as USDT. Despite its significance, USDT and its issuer face challenges in European markets due to regulatory changes. Tether has struggled to comply with the European Union’s Markets in Crypto Assets Regulation framework, leading to declining confidence among exchanges. Several platforms, including Coinbase, have delisted USDT for European users pending changes in compliance. Tether has also switched its base of operations to El Salvador after securing a crypto license from the pro-Bitcoin country. The entity plans to establish a headquarters in the BTC nation and invest more resources in artificial intelligence. Read more: Tether brings USDT to Bitcoin and Lightning Network
Kraken's delisting highlights the growing impact of regulatory compliance on crypto exchanges, potentially reshaping the European market landscape. The post Kraken to delist USDT and non-MiCA-compliant stablecoins in the EEA by March 31 appeared first on Crypto Briefing .
The Czech Republic’s central bank head recently echoed statements he made earlier in January boasting plans for the Central European nation to begin stockpiling Bitcoin, in remarks published by the Financial Times Wednesday. On Thursday, the Czech National Bank (CNB) said it would start analyzing the prospects of introducing additional asset classes to its reserve, and many indicated that BTC was among those. Czech Central Bank Ready to Hodl Bitcoin “Those [Trump] guys can now kind of create some bubble for Bitcoin, but I think the trend would be an increase without those guys as well because it’s an alternative [investment] for more people,” Michl said . He acknowledged the move is unconventional and not without risks. “Of course, if you compare my position with other bankers, then I’m the one entering the jungle, or the pioneer,” the central bank chief said. “I used to run an investment fund, so I’m a typical investment banker I would say. I like profitability.” But he iterated that the point of adding Bitcoin is not to go whole-hog, the way El Salvador’s President Nayib Bukele has, for example. Instead, the move would be a modest one to diversify the Czech bank’s holdings. “It’s possible to have a big range of outcomes, that bitcoin will have a value of zero or an absolutely fantastic value… But I’m saying that my goal is to diversify the portfolio, so if bitcoin is good, then let’s have it.” Speaking to a CNN international affiliate earlier in the month, Michl mentioned the bank was looking into acquiring “a few Bitcoin.” Sen. Lummis Sounds Alarm on Global BTC Race If you’re not first, you’re last. America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century. pic.twitter.com/96huqxoHES — Senator Cynthia Lummis (@SenLummis) January 29, 2025 The Financial Times article noted that the US central bank has no plans to acquire Bitcoin. In December, Federal Reserve chair Jerome Powell said, “We are not looking for a law change at the Fed.” But, several US policymakers in Congress and the new White House administration are planning a strategic digital asset stockpile, perhaps under the authority of the US Treasury. That includes Senator Cynthia Lummis (R-WY), who said on Wednesday in a post on X, “If you’re not first, you’re last. America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century.” The post Czech Point: Prague Central Bank Wants Bitcoin, Lummis Freaks Out appeared first on CryptoPotato .
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ethereum and Dogecoin show bullish signs, while Elluminex gains traction with its TON blockchain use cases. Table of Contents Ethereum draws closer to bullish season, Miles Deutscher says Ali Martinez projects a $15 price turn for Dogecoin amid ETF filing Massive bullish breakout for Elluminex DeFi hub on TON Network Conclusion While the crypto market is generally struggling with a notable downtrend, price charts of some popular altcoins are showing bullish prospects. For instance, Ethereum investors are getting ready for the potential growth of the token as February draws closer, empirically the best month for an Ethereum rally. On the other hand, Dogecoin is set to rally amid news of Bitwise Dogecoin ETF filing. Meanwhile, the Elluminex (ELX) project is making significant inroads into the crypto industry with smart use cases on the TON blockchain. So far, thousands of investors have bought the presale as the project’s economic trajectory is set to reach huge value growth by the end of Q1. You might also like: Ethereum’s 2017 run was legendary; Elluminex aims to be next Ethereum draws closer to bullish season, Miles Deutscher says Ethereum may be struggling to record a significant rally, but empirical stats show the token may be approaching its most bullish month in history. As crypto analyst Miles Deutscher highlighted, the Ethereum token has recorded significant growth in February, with 8 of the last 9 February months seeing a bullish trajectory. Also, market stats show that Ethereum’s market volume has seen a significant uptrend in daily percentage growth, suggesting a growing momentum from investors. Looking at the stats, Ethereum will likely record another bullish February, making it a good investment option. Technical analysis from Tradingview shows that the Ethereum price is above the 50-day and 200-day EMA, with over 20 indicators flashing buy signals. The Ethereum market sentiment is bullish as it moves to break through the $2500 major resistance zone. A breakthrough might see Ether retest the $4000 mark, which it tested in December. Ali Martinez projects a $15 price turn for Dogecoin amid ETF filing A crypto analyst, Ali_Charts, is confident that Dogecoin’s ETF will see the meme coin reach a price value of $15. He made this known in an X post in response to the news of a Bitwise Dogecoin ETF filling. According to sources, Bitwise and Rex Osprey have separately filed for Dogecoin ETF within the past two days, raising significant bullish prospects for the token. According to the market chart, Dogecoin’s price is bullish, gaining 8% within the past month. With news of potential ETF, Dogecoin will likely surge towards the ATH of $0.73, which has stood since May 2021. Popular crypto analyst John Squire thinks that the Dogecoin crypto price can hit $2. While John believes that meme coins have what it takes to witness massive growth, the forecaster questions the sustainability of such growth. Meanwhile, Dogecoin technical indicators are green, and the Fear and Greed index is 75 (Greed). Once it breaks through the $0.40, it could target new heights. Massive bullish breakout for Elluminex DeFi hub on TON Network Elluminex is introducing a DeFi solution that will propel the TON Network to become a key player in the DeFi industry. The TON blockchain lacks a bridge protocol that will allow its users to trade assets across multiple blockchains. This has isolated the over 950+ million TON users to just within the blockchain. With Elluminex, TON users can trade, stake, bridge, and track their portfolios across multiple blockchains. Elluminex is bringing a DeFi solution similar to the one that Uniswap brought on the Ethereum blockchain, and PancakeSwap brought to Binance Smart Chain. The DEX is optimized to handle the millions of transactions that will be executed on the TON Network. Its advanced trading tools, like the AI-powered portfolio tracker, allow users to monitor and gain insights about the market condition, enhancing trading decisions that will result in profits. Users can also take advantage of the staking pools to earn rewards. With the OTC platform, users will have access to new projects before they are listed in exchanges. All these are designed to allow for a seamless trading experience while boosting users’ profits. In view of the solution that Elluminex will bring to the TON blockchain, it has set the project on the path of exponential growth. At $0.06, investors can buy the ELX presale at this nascent stage and position themselves for future rallies. Conclusion Ethereum and Dogecoin have both shown notable bullish potential. Elluminex is also positioned for huge percentage growth and ROI for investors as it introduces a unique solution to TON Network, one of the most prominent blockchains in the industry. To learn more about Elluminex, visit the website , Twitter , and Telegram . Read more: Analyst predicts Solana ETF approval by March as Elluminex mirrors SOL’s rally Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
The post US PCE Inflation Rises to 2.6%, Core Inflation Steady at 2.8% appeared first on Coinpedia Fintech News The Bureau of Economic Analysis reported on Friday that the headline US PCE inflation has increased for the third month to 2.6%. Core PCE inflation in the U.S. held steady at 2.8% in December, the same as November. Stocks and Bitcoin are seeing gains as analysts and investors anticipate further growth in the coming months. The annual core US PCE inflation jumps to 2.8%, in line with market expectations and the same as in the earlier month. The monthly core PCE comes in at 0.2%, up from 0.1% last month. The Fed paused interest rates on Wednesday, boosting Bitcoin and crypto prices. However, Fed Chair Powell’s comments about not rushing to cut rates were criticized by President Trump, who advocates for rate cuts.
Tether has marked a historic year in the crypto industry, reporting $13 billion in profits for 2024 while holding over $143 billion in reserves. With a market capitalization surpassing $139
The European Central Bank (ECB) President Christine Lagarde’s recent statement on a strategic Bitcoin reserve has sparked widespread criticism. Binance founder Changpeng Zhao believes the European Union needs Bitcoin, contradicting Christine Lagarde’s assertion that the EU will never include it in its reserve. CZ’s Bitcoin Endorsement Ignites Hope In a recent X post , Binance founder and former CEO Changpeng Zhao, also known as “CZ,” stated, “EU needs Bitcoin.” His words sparked widespread attention as it followed ECB President Christine Lagarde’s controversial decision on the BTC reserve. In response to CZ’s comments, many pointed out the importance of the European Union including the crypto asset in its reserve. According to crypto proponents including CZ, Bitcoin is a necessity for the EU, and not a choice. Embracing the Future: Why the EU Needs BTC While the ECB disregards Bitcoin as a secure asset, industry experts see the asset as the future of finance. Donald Trump intends to turn his country into a “Bitcoin superpower” and a crypto capital . Corroborating CZ’s bold statement, experts highlighted BTC’s potential in a world facing the devaluation of the traditional finance system. As inflation surges and central banks exert unprecedented control, the fiat system is crumbling. While this creates havoc, experts see Bitcoin as the only solution. Crypto enthusiasts have fired back at Lagarde’s assertion that the asset isn’t secure, pointing out that BTC has never been hacked. They argue that Bitcoin boasts the most secure computer code ever written. This bold statement is grounded in its robust security architecture, which leverages its decentralized design, advanced cryptography, and the most secure blockchain infrastructure. This signifies that Changpeng Zhao’s endorsement of Bitcoin is echoed by the entire cryptocurrency community. Will ECB Reconsider Its Skeptical Approach? In a recent development, ECB President Christine Lagarde expressed her opposition to the adoption of a BTC reserve. She asserted that the EU would never acquire the cryptocurrency to diversify its national reserve. According to Lagarde, BTC falls short of the required standards for liquidity, security, and safety. However, the ECB’s skeptical view on the digital currency has drawn criticism, with many urging the central bank to reconsider its approach. Criticizing Lagarde’s decision, Pierre Rochard, VP of Research at Riot Platforms, stated, “ECB needs a new president who understands bitcoin.” Crypto advocates believe that once the US successfully adopts Bitcoin as a reserve asset, the rest of the world, including Europe, will recognize its importance and follow suit. Changpeng Zhao’s bold claim has further sparked optimism on Bitcoin’s potential global recognition. The post Strategic Reserve: Binance Founder Changpeng Zhao Claims EU Needs Bitcoin appeared first on CoinGape .
Alongside record profits, USDT issuer Tether also reported Friday it now holds over $143 billion in reserve assets to back the stablecoin.
Stablecoin issuer Tether reported $13 billion in net profit for 2024, driven by rising Bitcoin and gold prices. The company, which issues the largest stablecoin, USDT, generated $6 billion in profit in the last quarter of the year. Tether’s total assets stood at $143.7 billion, with excess reserves growing to $7 billion. The company’s latest financial attestation, verified by accounting firm BDO Italy, revealed that a large portion of the profits came from U.S. Treasuries and unrealized gains on Bitcoin and gold holdings. Tether also increased its Bitcoin holdings to nearly 84,000 BTC by the end of 2024. Bitcoin and Gold Drive Tether’s Profits Stablecoin issuer Tether has reported that its $13 billion profit came from multiple sources, with Bitcoin and gold appreciation playing a key role. Around $5 billion of the total profit resulted from the rising value of these assets. The remaining $7 billion came from returns on U.S. Treasuries and repurchase agreements. The company increased its Bitcoin holdings in Q4 2024, marking its first such move since March. By the end of the year, Tether held around 84,000 BTC, worth approximately $7.8 billion. The firm’s U.S. Treasury holdings also rose to $94.5 billion, reinforcing its asset reserves. USDT Issuance and Growing Market Presence Tether’s stablecoin, USDT, saw significant issuance in 2024, with $45 billion issued throughout the year. In the fourth quarter alone, the company issued $23 billion in new USDT tokens. The total market capitalization of USDT reached $140 billion, making it the fourth-largest cryptocurrency. USDT remains a crucial part of the crypto market, particularly in emerging economies. Tether reported that its stablecoin now has 400 million users worldwide, with most adoption occurring in developing regions. The company continues to expand USDT’s role in payments, remittances, and savings. Regulatory Challenges and European Market Restrictions Despite its growth, Stablecoin issuer Tether faces regulatory hurdles, particularly in Europe. The European Union’s Markets in Crypto-Assets (MiCA) regulations have led to the delisting of USDT from several exchanges. Crypto.com recently announced it would remove USDT and nine other tokens from its European platform by January 31, 2025. MiCA regulations require stablecoins to have an e-money license to operate in the European Economic Area (EEA). Tether has not received such authorization, leading to increased scrutiny. Several other exchanges, including Coinbase, delisted USDT in 2024 for similar reasons. Users on affected platforms have until March 31, 2025, to convert USDT into MiCA-compliant assets. Tether’s Plans and Expansion into New Sectors The USDT issuer continues to expand beyond stablecoins, with plans to enter new industries in 2025. The company announced upcoming projects in artificial intelligence, telecommunications, and financial services. Tether also aims to enhance crypto payments and remittances by integrating USDT with Bitcoin’s Lightning Network . Tether CEO Paolo Ardoino emphasized the company’s focus on innovation, stating, “Our goal is to offer practical solutions for remittances, payments, and other financial applications that demand both speed and reliability.” The integration with the Lightning Network is expected to improve USDT transaction speed and lower fees, benefiting global users. Concurrently, as per earlier reports, as part of its expansion strategy, Tether recently announced plans to move its headquarters to El Salvador. The post Stablecoin Issuer Tether Reports $13B Profit Boosted by Bitcoin and Gold appeared first on CoinGape .
Following Jan. 30, 2025, blockchaincenter.net’s Altcoin Season Index reveals a 28.26% leap, vaulting from a low of 46 to its present tally of 59—a numerical crescendo hinting that the fabled ‘Altcoin Season’ inches toward fruition. Across social media platforms like X, crypto-focused commentators now trumpet with scholarly fervor that this cyclical financial spectacle may soon