Sign Up on MEXC
Highlights
- Tether is on track to achieve $10 billion in profits in 2024, driven by strong demand for its USDT stablecoin.
- The company announced a $775 million commitment to video-sharing platform Rumble.
- Tether plans to launch its own AI platform in Q1 2025.
- The stablecoin issuer plans to expand in the US, anticipating crypto-friendly policies under President-elect Donald Trump
Paolo Ardoino, the CEO of Tether has unveiled ambitious plans for the company as the stablecoin issuer targets $10 billion in profits for 2024. Amid a strong surge in Bitcoin and the broader crypto market this year, there’s a strong surge in Tether’s USDT stablecoin thereby pushing its market cap over 50% to $140 billion. Ardoino also highlighted plans to launch Tether’s own artificial intelligence (AI) platform in the near future.
Tether Plans Huge Investment in 2025 With AI Push
USDT stablecoin issuer Tether has witnessed strong growth this year and is on the way to achieving $10 billion in profits. A significant portion of its revenue comes by investing the reserves that back its stablecoins, including USDT, into assets such as US Treasuries, gold, and other securities. As a result, the firm continues to maintain massive dominance as the stablecoin market hits over $200 billion.
Ardoino said that this year the company has invested more than half of its profits. On Friday, Tether announced a $775 million investment in the video-sharing platform Rumble. This includes a primary cash commitment of $250 million, along with support for Rumble’s tender offer to acquire up to 70 million shares at $7.50 per share.
The announcement came after the US market closure but was enough to send the Rumble stock soaring 50% in after-hours thereby shooting to $11. Speaking on the current developments, Paolo Ardoino stated:
“Next year we plan to deploy at least half of the profits in investments” including in AI. “Our investment is just at the beginning.”
Furthermore, the firm is also planning to pivot into the world of Artificial Intelligence (AI) by launching its own AI platform. Ardoino announced that the Tether AI platform will go live in Q1 2025 enabling users to interact with artificial intelligence directly through their mobile phones.
Eyeing Major Growth in the Donald Trump Era
Tether is looking to expand its footprint in the US market while expecting crypto-friendly regulations under President-elect Donald Trump’s administration. Howard Lutnick, nominated by Donald Trump as Commerce Secretary, is the CEO of Cantor Fitzgerald, a firm that holds a stake in Tether and manages the reserves backing the stablecoin issuer.
On the other hand, with MiCA crypto regulations kicking into the European Union by the year-end, several local crypto exchanges have started delisting USDT stablecoin. However, analysts believe the exit could mean a disadvantage over the Americas where crypto adoption is on the rise.
- Wall Street’s CPI Forecast: Expert Examines if Bitcoin Price Can Sustain Triangle Breakout?
- Avalanche Seeks $1B to Launch Treasury-Focused AVAX Firms in U.S.
- Dogecoin Leads Crypto Market Rally, Expert Sees $0.50 Target on DOGE ETF Launch
- Ethereum News: Latest On-chain Activity Hints Massive ETH Purchase by Bitmine (BMNR) and SharpLink (SBET)
- VanEck Pushes for Staked Hyperliquid ETF in US, Expects HYPE Coinbase Listing Soon
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
- Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?
