Tether could become the most profitable crypto company in history
17:10 ▪ 3 min read
With a profitability already surpassing that of many multinationals, Tether shows a trajectory that today intrigues crypto observers. For Bitwise, for example, its rise illustrates the potential of crypto players to capture a significant share of global financial markets.
In summary
Tether could surpass Aramco in terms of profits thanks to the global adoption of its stablecoin USDT.
Bitwise notes that the crypto targets huge markets, justifying its current high valuations.
A growth dynamic driven by the global adoption of USDT
According to data, Tether generated around 13 billion dollars in profits in 2024. This crypto company employs fewer than 200 people and holds more than 127 billion dollars in U.S. Treasury bonds. It now ranks among the top 20 holders in the world, alongside sovereign states like Germany and the United Arab Emirates.
The stablecoin USDT, issued by Tether, is used today by more than 400 million people. Growth is particularly concentrated in emerging economies, where USDT becomes an alternative to local currencies. The number of active wallets increases by approximately 35 million each quarter, according to CEO Paolo Ardoino.
Matt Hougan, Bitwise's Chief Investment Officer, estimates that if this adoption continues, Tether could manage up to 3 trillion dollars in assets. With current interest rates, such exposure would generate profits exceeding 120 billion dollars of Aramco.
$USDT
