PANews reported on December 21 that according to Bloomberg, Paolo Ardoino, CEO of stablecoin issuer Tether Holdings Ltd., said in an interview that the company's net profit this year is expected to exceed $10 billion. According to data tracking agency CoinMarketCap, USDT's market value has increased by nearly $50 billion this year and is currently worth more than $140 billion. Most of Tether's earnings come from investing its reserves that support stablecoins (including USDT) in U.S. Treasuries, gold and other securities.
Ardoino said that this year Tether will invest more than half of its net profit. In the morning news, Tether agreed to invest $775 million in the video sharing network Rumble, including an initial commitment of $250 million in cash. Tether also supports Rumble to acquire up to 70 million shares at a price of $7.50 per share. Ardoino said: "Next year we plan to invest at least half of our profits," including artificial intelligence. "Our investment has just begun." He said that Tether plans to launch its own artificial intelligence platform in the first quarter, allowing people to interact with artificial intelligence using mobile phones.
