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Tether Sees $10 Billion in Net Profits for 2024
The world’s biggest stablecoin issuer, Tether Holdings Ltd., is on track to close the year with more than $10 billion in net profits, Chief Executive Officer Paolo Ardoino said in an interview.
The world’s biggest stablecoin issuer, Tether Holdings Ltd., is on track to close the year with more than $10 billion in net profits, Chief Executive Officer Paolo Ardoino said in an interview. As Bitcoin and many other cryptocurrencies rallied to new all-time highs, demand for Tether’s USDT stablecoin — pegged to the dollar — has skyrocketed. Much of Tether’s earnings come from investing its reserves backing stablecoins, including USDT, into US Treasuries, gold and other securities.
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