Tether Predicts Record-Breaking $10 Billion Profit in 2024
Tether, the world’s largest stablecoin issuer, expects net profits to exceed $10 billion in 2024, driven by investments in U.S. Treasuries, gold, and securities backing its USDT stablecoin.
With a market valuation nearing $140 billion and 109 million wallets holding USDT, demand has surged amid crypto highs. Tether reinvested over half of this year’s profits, including a $775 million stake in Rumble and ventures in biotech and bitcoin mining.
CEO Paolo Ardoino announced plans to allocate future profits toward AI investments, while potential U.S. expansion awaits improved crypto regulations under the incoming administration.
Clever Robot News Desk 25th December 2024
