Tether CEO: Bitcoin price decline has little impact on Tether's net profitability

Tether CEO Paolo Ardoino posted on the X platform stating that the decline in Bitcoin prices has a relatively small impact on Tether's net profitability. Tether's main goal has always been to create the strongest, most stable, and most flexible stablecoin, and management has decided to retain $5.33 billion in excess reserves as part of the stablecoin reserve to further protect the global user base of USDT.