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

Tether continues its rapid growth in stablecoin issuance while also attracting increasing investor interest. The El Salvador-based company is in talks to raise up to $20 billion in exchange for a 3% stake, according to Bloomberg last month.

If 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. Thats very rare,” Ardoino said at the Plan B Forum in Lugano, Switzerland.

Tether‘s USDT is the most widely used stablecoin globally. Stablecoins 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 bonds. Thanks to high interest rates, Tether generated approximately $13 billion in revenue from these reserves last year.

According to DefiLlama data, the amount of USDT in circulation has reached $183 billion, which accounts for approximately 60% of the total stablecoin market.

Although 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 us. But we need to set a reasonable valuation line,” he said.

Tether plans to re-enter the US later this year and launch a new stablecoin project called ‘USAT’.