PANews, December 21 news, according to Bloomberg, Tether Holdings Ltd. CEO Paolo Ardoino stated in an interview that the company’s net profit is expected to exceed $10 billion this year. According to data tracking agency CoinMarketCap, the market capitalization of USDT has increased by nearly $50 billion this year, currently exceeding $140 billion. Most of Tether's revenue comes from investing the reserves that support its stablecoins (including USDT) in U.S. Treasury bonds, gold, and other securities.
Ardoino stated that this year Tether will use more than half of its net profit for investment. In morning news, Tether agreed to invest $775 million in the video-sharing network Rumble, including an initial commitment of $250 million in cash. Tether also supports Rumble in acquiring up to 70 million shares at a price of $7.50 per share. Ardoino said, 'Next year we plan to use at least half of our profits for investment,' which includes artificial intelligence. 'Our investments are just beginning.' He stated that Tether plans to launch its own artificial intelligence platform in the first quarter, allowing people to interact with artificial intelligence using their smartphones.