Citing TheStreet Crypto, Tether CEO Paolo Ardoino claimed the stablecoin issuer has a 99% profit margin, the highest in the world, and expects to generate $15 billion in profits by year-end. This would surpass the profit margins of major companies like Tesla and Apple. Tether, which operates in a regulatory gray zone, issues USDT, the largest stablecoin by market cap. The company has faced scrutiny over its financial transparency and was fined by the CFTC in 2021 for misrepresenting its reserves. Tether is also reportedly in talks for a $20 billion fundraising round that could value the company at $500 billion, fueling speculation about a potential IPO, which Ardoino denies.
Tether Claims 99% Profit Margin, Forecasts $15 Billion in Profits by Year-End
The Street CryptoShare
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