Tether Holdings Ltd., the stablecoin issuer that was pulled into the spotlight this week during the confirmation hearing for Donald Trump’s pick to run the Commerce Department, said it made an eye-popping $13 billion in profits last year.

An independent audit reveals that stablecoin issuer Tether (USDT) had billions of dollars of excess reserves at the end of last year.

Alongside record profits, USDT issuer Tether also reported Friday it now holds over $143 billion in reserve assets to back the stablecoin.

Stablecoins like USDT are increasingly popular for everyday uses like payments, remittances and savings, and Tether's expansion aims to spur activity to the Bitcoin-based ecosystem.

On Jan 30, 2025 at the inaugural PlanB Forum in El Salvador, Tether announced it is bringing USDT to Bitcoin and the Lightning Network.

Tether integrates USDT into the Bitcoin Lightning Network. The launch comes amid mounting scrutiny over Tether’s audits and EU exit. Despite regulatory challenges, Tether recently

Tether, the crypto firm behind the world’s largest stablecoin, is bringing its $140 billion USDT token to Bitcoin.