Tether CEO: Bitcoin Price Drop Has Small Impact on Tether's Net Profitability

Tether CEO Paolo Ardoino said in a post on the X platform that the fall in the price of bitcoin has had a small impact on Tether's net profitability.Tether's main goal has always been to build the strongest, most stable and resilient stablecoin, and management has decided to keep $5.33 billion in excess reserves as part of the stablecoin reserve to further protect USDT s global user base.