Tether's 'Record-Breaking' Q4 Profit Partly Attributed to Gold and BTC Price Appreciation
In the last quarter of 2023, Tether Holdings Limited registered a “record-breaking net profit of $2.85 billion.” Overall, the stablecoin issuer’s net profit in 2023 topped $6.2 billion. Tether’s secured loans ($4.8 billion), which are collateralized by highly liquid assets... See more for yourself here (https://news.bitcoin.com/tethers-record-breaking-q4-profit-partly-attributed-to-gold-and-btc-price-appreciation/).
Your opinion is greatly appreciated.
Tether's 'Record-Breaking' Q4 Profit Partly Attributed to Gold and BTC Price Appreciation
In the last quarter of 2023, Tether Holdings Limited registered a “record-breaking net profit of $2.85 billion.” Overall, the stablecoin issuer’s net profit in 2023 topped $6.2 billion. Tether’s secured loans ($4.8 billion), which are collateralized by highly liquid assets... See more for yourself here (https://news.bitcoin.com/tethers-record-breaking-q4-profit-partly-attributed-to-gold-and-btc-price-appreciation/).
Your opinion is greatly appreciated.
This is a proof that USDT is a bad stablecoin
The stability of a good stablecoin doesn't depend on the issuing company earning big money.
The stability of a good stablecoin doesn't depend on the skills of the company in managing the assets backing that coin.
Why you ask.
Because the moment the management of that company makes mistakes, that stablecoin isn't stable anymore.
A good stablecoin is a stablecoin whose stability is independent from the skills of the issuing company in managing their reserves.
You say your stablecoin is stable because it's backed up by $?
Good. Put 1$ in the bank each time you issue 1 USDT.
No need for investors and users to trust your financial skills.
You say your stablecoin is stable because it's backed up by 1 ounce of silver?
Good. Put 1 ounce of silver in a vault each time you issue 1 of your stablecoins.
No need for investors and users to trust your financial skills.