TechFlow news, September 30 — According to The Block, a recent client memo from Bitwise Chief Investment Officer Matt Hougan indicates that leading stablecoin issuer Tether could surpass Saudi Aramco to become the most profitable company in history. Tether currently has over 400 million users, adds 35 million wallets per quarter, and holds over $127 billion in U.S. Treasury securities. If its asset base reaches $3 trillion, its profits would exceed Saudi Aramco's 2024 earnings of $120 billion.
Tether is actively expanding into AI, telecommunications, data centers, and other sectors, and has launched a new stablecoin, USAT, targeting U.S. users. In 2024, Tether generated approximately $13 billion in profit with a team of fewer than 200 people and currently holds $11.4 billion worth of Bitcoin.
