Tether’s CEO claims a 99% profit margin and forecasts a $15 billion profit by year-end, surpassing Tesla and Apple. Operating in a regulatory gray zone, Tether issues USDT without full independent audits, raising concerns about its financial health. The company was fined by the CFTC for misrepresenting stablecoin reserves.

Ardoino predicts Tether’s profits will hit $15 billion, up from $13 billion last year. Reports suggest a potential $20 billion fundraising round valuing Tether at $500 billion, with USDT’s supply reaching $182 billion. Speculation on an IPO grows, but Ardoino denies plans for a public listing.

Tether plans to launch a U.S.-compliant stablecoin, USAT, in December, partnering with Anchorage Digital to meet federal requirements. To drive adoption, Tether invested in Rumble and aims to distribute USAT through its crypto wallet. The company was also listed among private donors for a White House project.

Read more at Yahoo Finance: IPO-rumored company beats every Wall Street giant with 99% profit margin