In a recent presentation, Tether’s CTO Paolo Ardoino revealed the company’s significant financial performance. Notably, Tether generated an estimated $13 billion in profit in 2024, positioning it as one of the most profitable entities within the crypto sector. This robust income is attributed largely to interest earned from the reserves backing its popular USD-pegged stablecoin, USDT. Ardoino further addressed concerns regarding Tether’s gold holdings, explaining that while Bitcoin dominates the conversation, gold plays a distinct role in hedging against fiat currencies. He clarified that gold doesn’t compete with Bitcoin but rather serves as a complement to it, fostering a diversified investment strategy. According to Ardoino, Tether’s focus on Bitcoin and its substantial reserves reflect a belief in Bitcoin’s long-term potential. Gold acts as a practical tool for bridging the present financial landscape.