Tether Holdings Ltd., the world's largest stablecoin issuer, is projected to achieve a net profit exceeding $10 billion in 2024. This year, Tether has allocated over half of its profits to investments. The demand for Tether's USDT stablecoin has surged, driven by record-high cryptocurrency prices, with its market cap increasing by nearly $50 billion to over $140 billion.
Tether's revenue is primarily generated from investing its reserves in high-yield assets such as U.S. Treasuries, gold, and other securities. Recently, Tether committed $775 million to Rumble, a video-sharing network. The company plans to invest at least half of its profits next year in areas including artificial intelligence (AI). Additionally, Tether is investing in Bitcoin mining and biotechnology.
In early 2024, Tether intends to launch its AI platform, enabling users to interact via mobile devices. The company remains optimistic about the U.S. cryptocurrency regulatory landscape, especially with potential political changes.
Tether's strategic investments and collaborations with U.S. financial institutions are critical to its future growth, making its business outlook noteworthy amid the evolving cryptocurrency market.
