Tether Holdings Ltd. CEO Paolo Ardoino stated in an interview that the company expects to achieve a net profit of over $10 billion by the end of this year. As Bitcoin and many other cryptocurrencies rise to historic highs, the demand for the Tether USDT stablecoin, which is pegged to the US dollar, has also surged. According to data tracking agency CoinMarketCap, the market capitalization of this token has increased by nearly $50 billion this year, currently exceeding $140 billion. Most of Tether's profits come from investing the reserves that support the stablecoin (including USDT) in U.S. Treasury bonds, gold, and other securities.