Bitwise CIO: Tether is expected to surpass Saudi Aramco to become the world's most profitable company

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan's latest client memo indicates that leading stablecoin issuer Tether may surpass Saudi Aramco to become the most profitable company in history.

Currently, Tether has over 400 million users, adding 35 million wallets each quarter, and holds over $127 billion in U.S. Treasury bonds. If its asset scale reaches $3 trillion, its profits will exceed Saudi Aramco's projected earnings of $120 billion in 2024. Tether is actively expanding into multiple sectors such as AI, telecommunications, and data centers, and has launched a new stablecoin, USAT, aimed at U.S. users. In 2024, Tether generated approximately $13 billion in profits with a team of fewer than 200 people and currently holds $11.4 billion worth of Bitcoin.