Paolo Ardoino, CEO of Tether Holdings, stated that the company has experienced a revenue increase this year, projecting that its revenue will reach $15 billion by year-end. He acknowledged that the stablecoin issuer’s rapid growth stems from its recent initiatives that have attracted investors focused on backing the company.
The USDT issuer recently reported that it’s in talks to raise $20 billion in exchange for a roughly 3% stake in its business. The initiative is projected to value Tether at around $500 billion, positioning the firm among the most valuable private companies globally.
Tether sees growing interest from investment banks
Ardoino spoke in an interview on the sidelines of the Plan B Forum in Lugano, Switzerland, and admitted that a profit of $15 billion by the end of this year is very rare. Tether has a reserve that includes cash and short-term U.S. government bonds, which earned the stablecoin issuer $13 billion in profits last year due to high interest rates.
On-chain data revealed that there’s approximately $183 billion worth of USDT in circulation at the time of publication. USDT also accounts for around 60% of the overall stablecoin market.
Ardoino agreed that it’s hard to ignore the interest that Tether has received, despite the firm not having interests in outside investments. He revealed that the firm has received multiple offers from companies wanting to invest in Tether, adding that he had to decide on a valuation that the firm believes is very cheap.
Tether announced earlier that investment giants, including SoftBank Group and Ark Investment Management, were in discussions to invest in the company. The USDT issuer believes that the backing of the two investment firms could help Tether grow and gain more mainstream acceptance in the technology and finance sectors.
Ardoino revealed that the company has a 99% profit margin, arguing that there’s no other company globally that has the same. He didn’t disclose whether the cited figures are subject to similar reporting standards that publicly traded companies are required to adhere to.
As Cryptopolitan previously reported, Tether plans to return to the U.S. with a new stablecoin called USAT, following the issuance of pro-crypto policies by U.S. President Donald Trump. The USDT issuer also announced a high-profile investment in Italian football club Juventus, which Ardiono and Tether’s chairman, Giancarlo Devasini, said they supported since they were young.
At the time of publication, Tether already has an 11.5% stake in the club. The firm has also submitted two candidates for addition to the football club’s board. They want the candidates to be appointed as deputy chief investment officer and local orthodontic specialist at Juventus. Ardoino argued that they wanted to give the fans, for the first time, a representative on the board.
Tether launches decentralized AI apps
Tether on Friday announced the launch of an open STEM-focused AI dataset called QVAC Genesis. The firm also launched a privacy-focused local AI app called QVAC Workbench.
Tether said QVAC stands for QuantumVerse Automatic Computer, adding that it’s the company’s answer to AI. The firm also confirmed that the dataset has already been validated against math, physics, biology, and medical benchmarks, which is designed to provide open-source AI researchers with an alternative to proprietary data.
The USDT issuer had previously revealed that QVAC’s architecture will eventually integrate Bitcoin and USDT, enabling AI agents to transact autonomously using cryptocurrency. Ardoino argued that intelligence shouldn’t be centralized, adding that QVAC Workbench and Genesis I open the door to infinite intelligence.
Tether also unveiled QVAC Workbench for smartphones, with the Android version already released and the iOS version set for launch within a few days, alongside desktop platforms such as Windows, macOS, and Linux. The firm stated that the app will enable all chats and interactions with AI models to remain local on-device, ensuring that data remains 100% private.
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Source: https://www.cryptopolitan.com/tether-projects-15-billion-profit/
