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Crypto News > Blog > News > Tether net profits to close at $10 billion in 2024 – Crypto
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Tether net profits to close at $10 billion in 2024 – Crypto

Crypto
Last updated: 2024/12/21 at 8:43 AM
Crypto Published December 21, 2024
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Tether net profits to close at  billion in 2024
 – Crypto
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Tether gains are no surpriseRelatedCrypto Keynote USA

For this year 2024, the crypto company Tether expects to close with net profits of approximately $10 billion. This is one of the most important years in the history of this company, which is famous for the issuance of USDT. Most of the firm’s income derives precisely from the trading of that stablecoin.

It is important to mention that a large part of the company’s net profits were reinvested, as confirmed by its CEO, Paolo Ardoino. In a recent interview, cited by Bloomberg, the executive stressed that approximately half of these funds were reinvested.

Tether is known for generating its income by investing in US debt. Likewise, another important part of its resources comes from returns on assets such as metals and other commodities. The USDT stablecoin is by far the largest of its kind and added more than $50 billion in market capitalization this year alone.

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Meanwhile, the firm is making rapid progress in diversifying its businesses. In that sense, it has injections in sectors such as Bitcoin Mining and others. Recently, it was learned that he reached an agreement to invest $775 million in Rumble. In this way, the diversification of Tether’s business will contribute to its net profits continuing to rise.

Tether gains are no surprise

The power of this company dedicated to multiple businesses in the crypto world rests on USDT. As already mentioned, the token pegged to the US dollar is the main driver of the firm. With over $140 billion in market capitalization, the coin knows no rivals in this particular sector of price-stable assets.

The rise of Bitcoin and the crypto market in recent years cannot be separated from the stimulus that this currency represents. Although the firm is not free of controversy, much of it probably false, USDT is the preferred pair for any trade within the spot market.

The stablecoin market is one of the most controversial, but also one of the ones with the greatest potential. This year, some new developments are presented as promising alternatives. Among them, the Ripple token RLUSD stands out.

In any case, Tether maintains ambitious plans for 2025, which could generate greater profits than this year. Likewise, the company expects to invest at least half of its profits in diverse businesses, Ardoino explained. These include projections in AI, with the launch of its own platform.

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They highlight that the anticipated regulation in the United States becomes positive news for the future of business in the crypto world. Consequently, regulatory clarity will allow clear goals to be established, both for Tether and for other companies.

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