Tether’s Q4 Net Profit Reaches $2.9B
In the fourth quarter of 2023, Tether, the company behind the issuance of the stablecoin USDT, reported a record net profit of $2.9 billion.
In the fourth quarter of 2023, Tether, the company behind the issuance of the stablecoin USDT, reported a record net profit of $2.9 billion.
The Tron blockchain project has responded to the recent findings of a group of UN experts who stated that the stablecoin USDT from Tether is being increasingly used for illegal financial activities.
There has been an uptick in cybercriminals utilizing stablecoins with fiat backing between 2022 and 2023.
According to a recent report by Binance Research, stablecoins issued by centralized companies and backed by real assets currently dominate the stablecoin market.
Fidelity predicts that institutions will once again become interested in DeFi products and stablecoins if traditional finance (TradFi) yields decrease due to the Federal Reserve’s policies.
By the end of 2024, both Hong Kong and Singapore have plans to pass laws allowing the use of stablecoins as a form of payment in their respective domestic markets.
In early January, the market supply of USDT reached $92.631 billion.

"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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