Tether's US dollar-backed stablecoin now commands a majority share of the stablecoin market, with a 20% increase in the past two years, reaching over 75%. The surge in market share has led to approximately $400 million in revenue for Tether in the last 30 days. The company's profits in the first quarter of 2024 totaled over $4.5 billion, mainly from financial gains in Bitcoin and gold. Tether's recent appointment of a new head of government affairs and record-high USDT balance on exchanges indicate a period of significant growth. The stablecoin issuer plans to expand its workforce and compliance team to meet increasing demand. The rise in stablecoin market capitalization reflects growing investor interest in cryptocurrencies, with stablecoins serving as a bridge between fiat and digital assets. Read more AI-generated news on: https://app.chaingpt.org/news