Tether Anticipates Over $10 Billion Net Profit By Year-End

According to Odaily, Tether's CEO Paolo Ardoino has announced that the company is on track to achieve a net profit exceeding $10 billion by the end of the year. This financial success is attributed to the rising demand for its US dollar-pegged stablecoin, USDT, driven by the increasing prices of cryptocurrencies like Bitcoin. The market capitalization of USDT has surpassed $140 billion. This year, Tether has allocated more than half of its profits to investments, including funding for the video platform Rumble. Looking ahead to next year, Tether plans to continue this investment strategy by dedicating at least half of its profits to further investments. In the first quarter, the company intends to launch an AI platform and explore investment opportunities within the US cryptocurrency sector.