News View Non-AMP

Tether Annual Profit Soars to $6.2 Billion, Critics Silenced

Published by
Qadir AK

Blockchain technology, often criticized for its speculative nature, is rewriting its narrative through Tether’s extraordinary success. Renowned trader and entrepreneur Anthony Pompliano recently debunked these assumptions, showcasing Tether as a prime example of blockchain’s real-world impact.

It’s about time someone addressed these claims, right? Dive right into his insights below.

Defying the Critics

Pompliano countered skeptics by emphasizing Bitcoin’s staggering $850 billion valuation, with a solid $600 billion held by long-term investors. This underscores a strong belief in digital assets, surpassing traditional commodities like Gold. Tether, in particular, has emerged as a key example, demonstrating that stablecoins have practical value beyond speculation.

In a recent revelation, Pompliano clarified Tether’s strength, revealing its tokenization of almost $100 billion across various fiat currencies on different blockchains. Remarkably, Tether stands as the 16th largest holder of US Treasury bonds, solidifying its role in the financial world. Despite facing criticism in an unregulated framework, Tether’s success positions it as a crucial player in the US financial landscape.

Did You Know? Tether Now Holds 66,450 BTC of Worth $2.8 Billion

A Solid Q4

CEO Paolo Ardoino recently shared Tether’s impressive fourth-quarter report, unveiling a substantial $2.85 billion profit. The report showcased a significant portion of net operational profit and a robust portfolio of gold and bitcoin holdings. The total profit for 2023 reached an astounding $6.2 billion, narrating Tether’s remarkable journey.

In a surprising revelation, Tether outpaced traditional financial giants in just 90 days, boasting an annual run rate of $11.4 billion. Matt Hogan, Bitwise CIO, emphasized that this surpassed the profits of even Goldman Sachs in the last quarter.

Messari CEO Ryan Selkis added to this,

“Tether is now 10% of JP Morgan’s net profit, but with way fewer employees”. 

A Strong Business Model – Built to Last?

Pompliano highlighted Tether’s unique approach, focusing on holding reserves in diverse investments for availability and protection. The company’s excess equity, standing tall at $5.4 billion, surpasses any remaining secured loans. Notably, Tether boasts a profit per employee that exceeds $100 million, positioning it as one of the most lucrative businesses globally.

The success of stablecoins like Tether and USDC on the global stage is undeniable, offering quick and inexpensive value transfers. Tether’s consistent growth not only defies skeptics but also shows how important blockchain technology is today.

Also Read: Tether Crowned 10th Largest Bitcoin Holder with Strategic $1.1 Billion Profit Play

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…

April 2, 2025

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025