Tether CEO: Tether expects to achieve $15 billion in profits this year

Foresight News: According to Bloomberg, Tether CEO Paolo Ardoino said in an interview during a break at the Plan B Forum in Lugano, Switzerland on Friday, "Tether expects to achieve a profit of $15 billion this year, with a profit margin as high as 99%. No other company can do this."

Tether's USDT token maintains its peg through reserves mainly composed of cash and short-term US government bonds. Due to high interest rates, these reserves brought Tether about $13 billion in profit last year. According to DefiLlama data, the current circulating value of USDT is about $183 billion, accounting for approximately 60% of the entire stablecoin market.

Last month, Bloomberg News reported that the company is in talks to raise up to $20 billion in exchange for about a 3% stake, a deal that would value Tether at around $500 billion.