Tether is expecting 700 MM profit in Q1

I am bullish on Tether. It may reach $2 by the end of the year!

Remember, it was the best performing crypto last year...

https://www.bloomberg.com/news/arti...st-quarter-profit-of-700-million-ardoino-says

"Tether Holdings Ltd., the issuer of the biggest stablecoin, expects to post a profit of about $700 million for this quarter, Chief Technology Officer Paolo Ardoino said.

That’s similar to what Tether reported for the three months through December. The circulation of Tether’s stablecoin, USDT, has increased by 18% to since year-end, to $78 billion. Tether expects to end this quarter with an $1.6 billion surplus in the reserves it holds to back USDT’s peg to the dollar, Ardoino said in an interview."

 

Still waiting for that BDO Italia audit. Been 9 months since it was announced.

 

A profit? How does a crypto generate a "profit", lol. So, the second you have some money invested you turn from the largest crypto critic into a pure and utter shill? Speaking of profit in this context is preposterous.

 

There is an issuing company. It is in the quoted part, Tether Holdings LTD. Since they invest the dollars held (supposedly), those investments generate profits.

 

they take money and pay no interest (stable coins just stay at 0, hopefully) and invest in things that pay interest… you know like a bank

 

I have no interest in defending tether but that article says that their T-bill holdings are custody by Cantor Fitzgerald.

Wasn’t one of the conspiracy theories around tether that nobody could find desks they are trading with?

So since Cantor says they custody the t bills for tether, does that allieviate some fears/suspicions? These are all honest good intended questions. Again I hold no tether and never will.

 

When is Tether going to collapse?

 

they say many things. Like they are backed by commercial paper and then there is no commercial paper. They are known liars. BDO Italian audit was announced last august. And I predicted backs then we will never see it.

 

So you are saying Cantor Fitzgerald is lying in this case?

 

Which is exactly what you criticized for years, middle men who cream off a fat profit margin but sell the idea of cryptos as decentralized currencies that lower transaction cost. Lol. The moment you buy into it they are the good guys? You lost all my respect with this single post alone. When Pekolo starts investing in cryptos and their related companies it means we must have reached the top.