Tether CEO: Falling Bitcoin Price Has Less Impact on Tether's Net Profitability
2024-07-31 15:58:07
Tether CEO Paolo Ardoino wrote on the X platform that the impact of the falling bitcoin price on Tether's net profitability is small. Tether's main goal has always been to build the strongest, most stable and most resilient stablecoin, and management decided to keep the excess reserve of $5.33 billion as part of the stablecoin reserve to further protect USDT's global user base.
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