As a seasoned crypto investor with over two decades of experience in traditional finance under my belt, I find Tether’s recent strategic moves to be both intriguing and promising. Paolo Ardoino’s revelation about their substantial profits and investments across various sectors is music to my ears.
In a recent disclosure, Tether’s CEO, Paolo Ardoino, unveiled their latest investments across various industries. These investments span from Bitcoin mining operations, traditional finance (TradFi), and payment solutions for commodity trading markets.
At a conference in Prague on December 5, Paolo Ardoino declared during an interview that Tether (USDT) has generated over $13 billion in earnings. Currently, Tether boasts a market capitalization of more than $135 billion and holds an additional $6 billion in extra reserves. These resources are employed to broaden the diverse investments within Tether’s continuously expanding stablecoin portfolio.
According to Ardoino, when Tether investments are made outside the preservation funds, they are managed by a distinct entity, referred to as Tether Investments, and these investments are spread across various sectors.
One aspect they’re involved with is Bitcoin (BTC) mining. Ardoino, along with the Tether team, have expressed enthusiasm for this process and aim to actively contribute to maintaining Bitcoin’s limited supply, preventing it from becoming excessively decentralized. He acknowledged that Tether has made investments in Bitcoin mining companies, not just in developed regions like Central and South America, but also in smaller countries as well.
According to Ardoino, it’s not wise to depend on just a few companies for Bitcoin mining, as they could control 90% of the process. To ensure Bitcoin’s safety, we need more global participants to join the mining process. This is one of our significant early investments in maintaining Bitcoin’s security.
In addition to cryptocurrencies, Tether also focuses on Traditional Finance (TradFi) and coin trading. He mentioned that Tether has started some transactions within the TradFi sector and functions as a “temporary lender” for various businesses.
As an analyst, I’d like to add that according to Ardoino, Tether has been delving into the application of its platform for cross-border payments, particularly in the realm of commodity trading. He envisions stablecoins as a potential disruptor in this sector, streamlining the payment process significantly due to their ability to simplify transactions.
Instead of traditional credit transfers which often require more time, U.S. Dollars Tether (USDT) transactions completed via the blockchain are significantly quicker, with confirmation typically happening within mere seconds.
In one area, we’re intending to allocate significant funds since we believe that USD Tether (USDT) could potentially revolutionize our strategies, as stated by Ardoino.
Beyond this, Tether is also pouring funds into a variety of “companies situated globally,” as Ardoino mentioned, with numerous ones being based in developing nations within burgeoning markets. Furthermore, Tether has persisted in making investments that it had previously undertaken, such as the brain-computer interface technology company Blackrock Neurotech and the AI infrastructure firm Northern Data Group.
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2024-12-05 17:04