Donald Trump's victory makes Tether's dream come true
If there's a clear winner among the ten biggest crypto assets after Donald Trump's stunning election victory, it seems to be #bitcoin . The price of bitcoin, the world's largest crypto-asset, rose at a key moment on Tuesday, coinciding with developments in election predictions.
traders watched bitcoin rise to record highs as news sources such as the Associated Press, NBC and Fox reported that the election situation was gradually shaping up in Trump's favor. The link between bitcoin and Trump was evident in real-time charts and was being shown around the world.
the bitcoin tide spilled over into thousands of altcoins, and nearly all leaders like CoinMarketCap went green. Ether, #Solana , BNB, XRP, and Dogecoin all saw significant gains compared to 24 hours ago.
However, another digital asset in the top ten didn't rise at all, despite its impressive win. #Tether (USDT), the world's largest stablecoin, traded at $1 yesterday and now stands at $BTC Despite the unchanged price, careful market watchers had no doubt that Tether was the big winner.
By some estimates, Tether is one of the most profitable companies in the world on a per-employee basis. By receiving interest, dividends and capital gains from its more than $120 billion in self-proclaimed assets, Tether can generate tens if not hundreds of millions of dollars in profits per employee.
Carefully managing relationships with governments to avoid shutdowns has been a delicate dance for Tether since its inception a decade ago.
To manage these efforts, Tether has found a prominent ally in the world's largest government: Cantor Fitzgerald CEO Howard Lutnick.
Endorsed by Trump and co-chair of the Presidential Transition Commission, Lutnick has broad qualifications that will help Tether manage relationships with the U. S. government for years to come.
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