As one of the most profitable institutions in the cryptocurrency sector, Tether has built a massive cash flow system through its stablecoin business. According to industry estimates, its annual net profit scale reaches up to 100 billion RMB. After reaching a critical point in capital accumulation, Tether began to invest its substantial profits into diversified fields that are completely disconnected from the cryptocurrency ecosystem. This strategic shift is interpreted by the industry as a dual defense mechanism: it avoids excessive concentration of investments that could lead to liquidity depletion in the crypto market and attempts to spread investment risks through cross-industry布局, preventing a systemic crisis in a single lane from consuming the wealth it has accumulated in the cryptocurrency space. One of the biggest bloodsuckers in the crypto world.