Tether CEO Sets Eyes on US Expansion Expecting a Boom in Profit

Tether CEO Paolo Ardoino is focusing on expanding the company's presence in the United States, anticipating a significant increase in profits. According to a Bloomberg report, Tether has invested $775 million into Rumble Inc., an American video-sharing platform. Ardoino views this as a strategic opportunity to explore the evolving US regulatory environment. However, he remains cautious, awaiting clearer regulations before making further moves. Tether's profits have surged due to higher interest rates and a rebound in the cryptocurrency market, with US government bonds forming a substantial part of USDT's reserves. Cantor Fitzgerald LP, which manages Tether's Treasury holdings, has its CEO Howard Lutnick named to Trump's next administration. Despite its growth, Tether has faced challenges in the US, including a $41 million settlement in 2021 over allegations of misrepresenting its reserves.