Tether, the issuer of the largest stablecoin USDT, reported a revenue of $5.2 billion in 2024, primarily driven by interest on US Treasury holdings, lending activities, and associated fees. This significant income highlights Tether's robust financial performance amid growing scrutiny and regulatory challenges in the stablecoin sector. As regulatory frameworks tighten, questions arise about the scalability and sustainability of Tether's revenue model under increased oversight.