Tether (USDT) CEO Says They Will Announce an Unbelievable Net Profit – Unprecedented Figures

According to Bloomberg, Tether CEO Paolo Ardoino announced that the company is expected to report a net profit of approximately $15 billion this ￰0￱ stated that this figure is an extraordinary achievement for the company and that they have reached a profit margin of 99%. Tether continues its rapid growth in stablecoin issuance while also attracting increasing investor ￰1￱ El Salvador-based company is in talks to raise up to $20 billion in exchange for a 3% stake, according to Bloomberg last ￰2￱ this deal goes through, Tether's market capitalization would reach approximately $500 billion, making the company among the world's most valuable private companies.

“We will make around $15 billion in profit this year. That's very rare,” Ardoino said at the Plan B Forum in Lugano, ￰3￱ News: CLAIM: Is the Bitcoin Price Following the Gold Chart 188 Days Behind? So, When It Catches Up to Gold, How Much Will the BTC Price Be? Tether's USDT is the most widely used stablecoin ￰4￱ are typically cryptocurrencies pegged one-to-one to a traditional currency like the US dollar.

Tether's reserves, which maintain this peg, largely consist of cash and short-term US government ￰5￱ to high interest rates, Tether generated approximately $13 billion in revenue from these reserves last ￰6￱ to DefiLlama data, the amount of USDT in circulation has reached $183 billion, which accounts for approximately 60% of the total stablecoin ￰7￱ Ardoino stated that the company does not need external investment, he said that the interest of major investors cannot be ignored: “We have been contacted by many companies that want to invest in ￰8￱ we need to set a reasonable valuation line,” he ￰9￱ plans to re-enter the US later this year and launch a new stablecoin project called 'USAT'. *This is not investment ￰10￱ Reading: Tether (USDT) CEO Says They Will Announce an Unbelievable Net Profit – Unprecedented Figures