Tether Aims for $10 Billion Profit and AI Expansion in 2024

Tether, led by CEO Paolo Ardoino, has set its sights on an ambitious goal of generating $10 billion in profits in 2024, driven by the surging demand for its USDT stablecoin.

With its market cap soaring over 50% this year to reach $140 billion, Tether is also venturing into artificial intelligence, a bold move that could reshape its role in the digital economy.

This year, Tether has significantly reinvested its profits to sustain growth, including a recent $775 million commitment to the video-sharing platform Rumble. This investment, which included $250 million in cash and a stock tender offer, boosted Rumble’s shares by 50% in after-hours trading.

Ardoino has confirmed that Tether plans to allocate a similar portion of next year’s profits to new opportunities, with AI as a central focus. The company aims to launch its AI platform in early 2025, allowing users to seamlessly interact with cutting-edge technology through mobile applications.

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As the global regulatory environment evolves, Tether is eyeing expansion in the United States, buoyed by expectations of crypto-friendly policies under the incoming Trump administration. Howard Lutnick, Trump’s nominee for Commerce Secretary and CEO of Cantor Fitzgerald—a firm involved in managing Tether’s reserves—could play a key role in shaping this trajectory.

Meanwhile, Europe presents challenges as exchanges begin delisting USDT ahead of the MiCA regulations. However, Tether sees an opportunity to strengthen its foothold in the Americas, where crypto adoption continues to grow, positioning the company to capitalize on emerging trends and maintain its leadership in the stablecoin market.

Alexander Zdravkov