Valuation comparable to OpenAI: How does stablecoin giant Tether earn a net profit of 4.9 billion in a single quarter?

Tether's $500 billion valuation puzzle: Compliance game and IPO prelude to the high-profit USDT The Secret of $500 billion valuation: Understanding the "crypto-world central bank" Tether's money-making logic and risks Trading tens of billions of dollars every day: Tether's huge financing and compliance transformation path 👉【Content Outline】 ✅ Tether's huge financing shocks the traditional financial circle ✅ Tether's financing intention and valuation logic ✅ USDT's high-profit and non-compliant asset structure ✅ Regulatory storm and Tether's compliance adventure ✅ Stablecoin market competition and Tether's moat ✅ Stablecoin public chain arms race and Tether layout ✅ Tether's IPO strategic layout analysis ✅ Risks and opportunities from the perspective of investors ✅ Tether Revolution with the Financial Paradigm [Previous Wonderful Videos] https://youtu.be/t7Y6GbxYStI https://youtu.be/j3X-Iewq0r4 https://youtu.be/1Ncz1WFexxw https://youtu.be/pJItUqQ6nKs https://youtu.be/7T4jlaDfKUo https://youtu.be/LY4QQ222jZY https://youtu.be/c-UcZo-Kdd4 https://youtu.be/_lKmDJtufAY https://youtu.be/6m5lG6O90DE https://youtu.be/saKxdcEydms https://youtu.be/DMpigdc75oQ https://youtu.be/Oxi9SY16meY https://youtu.be/lzp6_JUZI2g [Main content of this video] Tether: The compliance game behind the valuation of 500 billion yuan and the prelude to listing Stablecoin giant Tether has promoted private equity financing of US$15-20 billion with a valuation of US$500 billion, ranking among the top private enterprises in the world. Its net profit in the second quarter of 2025 reached US$4.9 billion, and its total profit in the first half of the year was US$5.7 billion. The market value of USDT has exceeded US$170 billion, and its daily average trading volume exceeded US$10 billion. This valuation is based on a 10-fold price-to-earnings ratio. Although it is lower than that of traditional technology companies, it is in a reasonable range based on its business characteristics and risks. Financing funds will be used in three major directions: expanding USD 127 billion in US bond holdings to strengthen reserves, lay out emerging fields such as AI and Bitcoin mining, promote compliance and launch USAT, a stablecoin that complies with the US GENIUS Act. Its high profits are derived from the US Treasury spread, asset appreciation of 5.4% Bitcoin and 3.5% gold, and alternative investment returns, but 16% of reserve assets violated the bill's requirements due to the violation of the regulations due to the crypto and physical assets, and only quarterly "proof" has not been fully audited, which poses regulatory and transparency risks. In response to regulation, Tether adopts a dual currency strategy: USAT is issued and custodian by licensed institutions in the United States, specializing in the compliant market; USDT retains global mass market share. At the same time, it uses former White House officials to take charge of the U.S. business and cooperate with government officials to strengthen political endorsement. In the competition, it builds a moat with a market share of 58%, hundreds of thousands of distribution points and an annual profit of US$13.7 billion to compete with rivals such as Circle. Although it claims there is no IPO plan yet, Tether is paving the way through compliance, introduction of institutional investors, and layout of Stable/Plasma dual public chains. The potential paths include traditional IPOs, spin-off listing, etc. It faces risks such as fluctuations in regulatory policies and intensified competition, but as a beneficiary of the digitalization of the US dollar, network effects and profit support make it highly valuable for investment. This "crypto-central bank" transformation marathon is rewriting the boundaries between traditional finance and the crypto world. 👉 Video original: http://youtube.com/post/UgkxqM-r2uaeRi7UsjSVA4f8F-cfWlDde_zh?si=aJ64dplZi4t0aN1A [Note⚠️, cryptocurrencies are high-risk investments, and you may lose all your principal. If you don’t understand, it is recommended not to participate. This video does not have any investment advice, it is only used as information sharing]