Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Tether (USDT) has a market capitalization of $96 billion after achieving record net profit in the fourth quarter of 2023.
ALTCOIN NEWS

Tether (USDT) has a market capitalization of $96 billion after achieving record net profit in the fourth quarter of 2023.

By Crypto FlexsFebruary 5, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Tether (USDT) has a market capitalization of  billion after achieving record net profit in the fourth quarter of 2023.
Share
Facebook Twitter LinkedIn Pinterest Email

Stablecoin issuer Tether’s USDT is approaching $100 billion in market capitalization after posting record profits last quarter.

According to Tether’s last earnings report, the company posted revenue of $2.85 billion in the fourth quarter of 2023, a record high for the company, driven primarily by interest payments on U.S. Treasury bills.

according to the report,

“In terms of financial performance, we recorded record net income in the fourth quarter of $2.85 billion, of which ~$1 billion was net operating income (mainly interest on U.S. Treasury bills) and the remainder was primarily from gold and Bitcoin reserves. It happened in the evaluation. .”

According to analytics firm IntoTheBlock, Tether’s recent increase in dominance stems in part from its competitors facing significant obstacles, with USDC issuer Circle affected by a regional banking crisis and Binance’s BUSD facing regulatory scrutiny from the U.S. government.

“This situation allows Tether to leverage these developments to strengthen its presence and drive expansion.”

USDC currently has less than a third of USDT market cap and BUSD is in the process of shrinking.

According to Tether’s last earnings report, as of December 1, 2023, the company had over $98 billion in assets under management and $5.4 billion in excess funds covering $4.8 billion in outstanding loans held in USDT reserves.

As of this writing, USDT’s market capitalization is $96.17 billion.

Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox

Check Price Action

follow us TwitterFacebook, Telegram

Daily Hodl Mix Surfing

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Rost9/WindAwake

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Leeum: 3 glazing signals for the bull inside ETH’s liquidation wall

May 30, 2025

Crypto’s optimism is not just an overex. Structural features.

May 30, 2025

Upbit listing gains great benefits to 4 altcoins

May 30, 2025
Add A Comment

Comments are closed.

Recent Posts

NVIDIA explores advanced automation with AI agent system.

May 30, 2025

Canary Capital finds SEC approval to launch First Staked Spot CRO ETF in the United States.

May 30, 2025

Ether Leeum: 3 glazing signals for the bull inside ETH’s liquidation wall

May 30, 2025

Inrum’s route of $ 100,000 to support this level

May 30, 2025

BTC (Bitcoin) gains potential benefits from market elasticity.

May 30, 2025

Crypto’s optimism is not just an overex. Structural features.

May 30, 2025

COREWEAVE is a government vice president to strengthen leadership with Carl Holshouser.

May 30, 2025

Bitcoin slide, win collision

May 30, 2025

BitMex introduces AUSD and AUSDT permanent exchange with 33.3x leverage.

May 30, 2025

Upbit listing gains great benefits to 4 altcoins

May 30, 2025

INFINITE NODE posts a more detailed cryptopunks NFT book

May 30, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NVIDIA explores advanced automation with AI agent system.

May 30, 2025

Canary Capital finds SEC approval to launch First Staked Spot CRO ETF in the United States.

May 30, 2025

Ether Leeum: 3 glazing signals for the bull inside ETH’s liquidation wall

May 30, 2025
Most Popular

Ark Invest Sells $6.9 Million of Its Own Spot Bitcoin ETF, Expands Coinbase Share Sale

August 2, 2024

Find ETFs for 8 days in a row

May 25, 2024

Swarm Proof-of-Concept Release 3 Announced

March 9, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.