trc-20

The head of the stablecoin issuer, Paolo Ardoino, summed up the results of 2023 and said that he is looking forward to the next one, in which the company plans to launch several new projects In 2023, Tether, the issuer of the largest stablecoin USDT, increased the excess reserves of its coins to approximately $4 billion, Tether CEO Paolo Ardoino wrote on social network X. That's $800 million more than auditors' estimate of $3.2 billion at the end of the third quarter of this year. Summing up the year, the CEO of Tether noted in his message that during the last quarter, the market value of USDT “set record highs almost every day” and reached $91 billion. According to CoinGecko, on December 27, the capitalization of the stablecoin is $91.5 billion - this is the historical maximum of the launched in 2015 token. Ardoino also noted that over the past few years, Tether has also co-founded several projects and supported several companies. This was done without using stablecoin reserves, but at the expense of part of the company’s profit, its head clarified. Among other things, he recalled the deal with the German mining company Northern Data, which, according to him, talks about Tether’s “vision of artificial intelligence infrastructure.” According to the agreement, the company must spend about $420 million on 10 thousand graphics processors and exchange them for a 20% stake in Northern Data, which plans to lease these video cards to AI startups. Half a billion for mining. Why Tether entered the Bitcoin mining market. Ardoino also noted that Tether Energy is investing heavily in the construction of mining sites in emerging markets and in the development of the Moria P2P/IoT platform for monitoring, analyzing and optimizing operations. Tether has more than 57 thousand bitcoins on its balance. In early December, it became known that Tether’s unrealized profit on investments in Bitcoin (BTC) at that time amounted to $1.1 billion.#Tether #USDT #trc-20