Tether USDt

The stock market index company Barrons.com has <a href="https://www.barrons.com/articles/crypto-tether-coin-bitcoin-blackrock-b1a495c5" rel="noopener noreferrer nofollow">reported</a> that the stablecoin issuer Tether Holdings’ asset-backed crypto USDT might rake in $6 billion in profits in 2023. Reported to potentially surpass the investment fund manager BlackRock’s projected $5.5 billion net income, USDT&#39;s circulating supply soared by 25.7% in 2023, claiming 7% of the entire crypto market capitalization (MCAP).Barrons.com has attributed USDT’s robust profit potential to it being supported 1-to-1 by U.S. Treasury bills (reserves), having $83 billion in deposits. As per Tether Holdings, its excess reserves peaked at an all-time high of $2.44 billion in Q1 2023, with $1.48 billion in net profit. As per Barrons.com, Tether invests the customer deposits in reserves, such as Treasuries, to earn over 5% interest.BlackRock, offering investment management and technology services to worldwide institutional and retail clients, reportedly has $9.1 trillion under management. The leading asset manager <a href="https://www.bloomberg.com/opinion/articles/2023-06-22/blackrock-s-larry-fink-turned-one-bad-trade-into-a-billion-dollar-business#xj4y7vzkg" rel="noopener noreferrer nofollow">earned</a> $5.4 billion in revenue in 2022 from its active asset-management business, whereas its ETF business&#39; revenues stood at $5.5 billion.Read full article at <a href="https://cryptotale.org/tether-may-rake-in-6b-in-profits-surpassing-blackrocks-5-5b/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Tether May Rake in $6B in Profits, Surpassing BlackRock’s $5.5B

CryptoTale

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