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Tether is growing at an unstoppable pace. And so are their profits.
What’s happening:
- Tether, the parent company behind the world’s largest stablecoin USDT, has announced profits for the first half of the year totalling more than $5B USD
By the numbers:
- Tether currently owns $97.6B USD of United States Treasury Bills which are earning interest payments
- Tether is the 18th largest holder of United States Treasury Bills globally, having more exposure to United States Treasury Bills than countries such as Germany, Australia and the United Arab Emirates
Going deeper:
- Tether has been using their extra cash to make multiple new venture capital bets, including a significant investment into Blackrock Neurotech and a $100M USD equity investment into publicly traded Bitcoin mining company Bitdeer (NASDAQ: BTDR)
The intrigue:
- Tether previously financed one of the largest purchases ever of GPUs to power artificial intelligence cloud computing
