In a world where fortunes are spun like tales of old, one might ponder the curious case of Tether. Imagine, if you will, a company poised to ascend to the lofty heights of the 19th largest in the realm, with a valuation that dances around the staggering sum of $515 billion. Yet, in a twist worthy of a Dostoevskian plot, Tether declares, “We have no need for such frivolities as an IPO.” Ah, the irony!
Our dear Jon Ma, a modern-day bard of the digital age, took to the platform known as X to unveil a chart that would make even the most stoic of investors raise an eyebrow. “Behold!” he proclaimed, “Tether, with its princely valuation, would outshine many a titan of industry.” He drew comparisons to Circle, another stablecoin entity that has already taken the plunge into public waters, valued at a mere $30 billion. How quaint!
Circle, with dreams of grandeur, anticipates earnings that could swell to an astonishing $410 billion by the year 2025. This, dear reader, is what the financial wizards call EBITDA—profits before the taxman cometh and before one accounts for the wear and tear of their gilded equipment. Meanwhile, Tether, in its humble abode, expects a net profit of $13 billion this year. A paltry sum, one might say, yet it hints at that wild valuation of $515 billion. A number that sounds as if it were conjured from the depths of a fevered imagination!
Recently, Circle made quite the splash with its IPO, sending ripples through the crypto pond. Following suit, the Winklevoss twins, those modern-day Prometheus figures, have announced their own intentions to go public. The stage is set, the players are in motion, and yet Tether remains a steadfast ship in the harbor.
Paolo Ardoino, the esteemed CTO of Tether, responded to the $515 billion valuation with a grin, calling it a “beautiful number.” He even suggested, with a twinkle in his eye, that perhaps this figure is a tad conservative, given Tether’s burgeoning reserves of Bitcoin and gold. How delightful it is to be humbled by such recognition while simultaneously basking in the glow of potential riches!
“No need to go public.” Ah, the wisdom of the ages wrapped in a single phrase!
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2025-06-07 23:35