- Tether projects $15 billion in profits for this year with a 99% profit margin.
- Tether‘s CEO reports increased investor interest and a potential $20 billion fundraising round.
- Tether holds approximately 59% of the overall stablecoin market, with $182.79 billion in USDT in circulation.
- The company plans to re-enter the U.S. market with a new stablecoin initiative compliant with the GENIUS Act.
- Tether‘s financial transparency and past regulatory issues remain under scrutiny.
Tether, the issuer of the world’s largest stablecoin, expects to reach $15 billion in profits this year, according to CEO Paolo Ardoino. The company reports it has experienced a significant surge in investor interest as it considers a major fundraising round.
Ardoino told Bloomberg that “This year we’re going to approach another $15 billion profit. That’s very rare.” He also stated the company is seeing a 99% profit margin, a level he claims is unmatched in the industry. At present, Tether has $182.79 billion worth of USDT tokens in circulation, which accounts for about 59% of the total stablecoin market, according to DefiLlama data.
Despite plans for a $20 billion fundraising effort in exchange for a roughly 3% stake, which would value the company at an estimated $500 billion, Ardoino emphasized that only investors with strong synergy and the potential for broader impact will be considered. “We have been contacted by an enormous amount of companies that want to invest in us. We have to draw a line in the sand on a valuation that we think is very cheap,” he said.
The company’s profit figures are not publicly audited, and Tether does not disclose whether it follows the same financial reporting standards as publicly traded firms. In 2021, Tether was fined by the U.S. Commodity Futures Trading Commission for misrepresenting the reserves backing its stablecoin.
In September, Tether announced it would re-enter the U.S. market with a new stablecoin, USAT, designed to comply with the GENIUS Act. The company is based in El salvador and continues to expand its role in the global digital asset sector.
