Rising interest rates make stablecoin issuance a profitable business. Tether_to reported an operating profit topping $1B in Q2, not that much less than that of asset management giant BlackRock over the same period. $BLK $USDT sndr_krisztian reports.
Tether is the issuer behind the $83 billion USDT, the largest stablecoin by market capitalization, and some smaller stablecoins. USDT is a key piece of the crypto ecosystem facilitating trading and asset transfers.
Issuing fiat-backed dollar-pegged stablecoins is a lucrative business due to rising U.S. government bond yields, the primary reserve asset for USDT. Tether's reported profits are close those of asset management giant BlackRock – with more than $9 trillion in assets under management –Tether, however, continues to receive a fair amount of scrutiny for its
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tether reports an $850 million increase in excess reserves in Q2Stablecoin issuer Tether said it had a net profit of $850 million in the second quarter in its latest attestation report.
Lire la suite »
Tether’s excess reserves up to $3.3B, holds $72.5B worth of US Treasury billsTether releases its Q2 report for 2023, increasing its excess reserves to $3.3 billion and revealing its exposure to United States Treasury Bills.
Lire la suite »
Toddler drowns after parents tether her to catamaran while they cooked dinnerThe 13-month-old toddler, named Māhina Toki, died on Friday after falling from the catamaran Kalamari which was docked in Musket Cove in western Fiji.
Lire la suite »
Binance CEO Criticizes Tether (USDT), Here's WhyChangpeng Zhao indicated main problems of stablecoin segment and explained what he does not like about largest of them
Lire la suite »