Tether's Capital Expected to Grow to $1.7 Billion by the End of Q1

Tether's Chief Technology Officer, Paolo Ardoino, has announced that the cryptocurrency firm is expecting to make a profit of $700 million in the first quarter, which will be similar to the profit in the fourth quarter of 2022. He also pointed out that Tether has an "extra" $950 million as of December 31, 2022.

This means that our company's capital will increase by $1.5 or $1.7 billion which is 100% backed by assets. Paolo Ardoino claims that USDT, the stablecoin issued by Tether, is becoming the "safest asset" in the world as the company differs from banks based on a fractional reserve model. He is referring to the collapse of banks such as Silicon Valley Bank (SVB) due to problems currently occurring in the United States banking system.