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Tether has reported a profit of $13 billion for 2024 amid diversified investments push.

The global crypto market cap stands around $3.58 trillion, down by 0.13% in the past 24 hours at the time of writing. Daily trading volume for the entire market fell 22% to around $107 billion in this period. According to CoinMarketCap, Bitcoin dominance was at 57.

Kraken announced its plan to end support for Tether's token and other non-compliant stablecoins for European clients.

The firm also saw its direct and indirect exposure to U.S. Treasuries hit a record high of $113 billion.

Tether reported net profits of $13 billion during 2024 generated by its businesses, which include the largest stablecoin USDT.

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.

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 just released its latest financial report, revealing $13 billion in net yearly profits and $113 billion in US Treasury holdings.

Tether, the company behind the $USDT stablecoin, announced plans to launch $USDT on Bitcoin's base layer and the Lightning Network. That's big, big news – $USDT carries a $140B market cap in the stablecoin sector, which itself accounts for some $224B of the $3.7T total crypto market cap.

Tethers Q4 2024 report confirms $13B profits, $113B in US Treasuries, and a $7B surplus, showcasing stablecoin growth in crypto markets. The post Tether hits record $13B profits in 2024, reinforcing stablecoin dominance appeared first on Crypto Briefing.

Last year was a great one for the crypto market, which saw strong price increases, including Bitcoin breaking the $100,000 mark for the first time. With Donald Trump winning the elections and becoming the first U.S. president to be a supporter of cryptocurrency, many crypto-related companies earned significant profits.

This move will bring stablecoins to both Bitcoin's base layer and its Lightning Network. This is made possible by a new Taproot-powered protocol called Taproot Assets, developed by Lightning Labs.

Tether's 2024 financial report highlights a net profit surpassing $13 billion.

The group also increased its bitcoin holdings last quarter for the first time since March, holding nearly 84,000 BTC worth about $7.8 billion as of year-end.

USDC by Circle and USD Tether (USDT) by Tether Limited are both demonstrating strong growth traction in recent weeks. Normally, such processes indicate a coming rally for net crypto capitalization, CryptoQuant data says.

According to emails shared with European users, Crypto.com will delist several prominent cryptocurrencies, including Tether's USDT, Wrapped Bitcoin (WBTC), and DAI, by January 31, 2025.

The Bitcoin network has grown to a vibrant Web3 ecosystem with over $7.1 billion in TVL, facilitated by the Lightning network and the Taproot-enabled protocols.

USDT adoption on Bitcoin's Lightning Network supports instant transactions, AI payments, and DeFi expanding Bitcoin's real-world financial applications.

TL;DR Tether has integrated its USDT stablecoin with Bitcoin's Lightning Network, enabling instant, low-cost transactions while maintaining Bitcoin's security and decentralization. The integration leverages the Taproot Assets protocol to enhance Bitcoin's ability to handle tokenized assets, transforming how stablecoins are used within Bitcoin's ecosystem.

Tether announced the integration of USDT with Bitcoin's base layer and Lightning Network using Taproot Assets protocol, enabling faster transactions and expanding payment possibilities while maintaining Bitcoin's security features.

Tether is launching the USDT stablecoin on the Bitcoin and Lightning Networks. Taproot Assets supports the integration.

Tether has expressed disappointment over the delisting of its USDT stablecoin by exchanges in Europe following the implementation of the Markets in Crypto-Assets (MiCA) framework.

Tether, the world's leading stablecoin issuer, has announced the integration of USDT into Bitcoin's ecosystem, including its base layer and the Lightning Network.