- Tether CEO revealed plans to expand business in the US ahead of Trump’s inauguration.
- Largest stablecoin issuer bagged billions of profits in 2024 following Trump’s election.
The re-election of Donald Trump as the president of the US is set to change the face of the crypto industry. While several states are proposing Bitcoin strategic reserves, crypto companies are tending to expand their US customer base. On similar lines, Tether also considers expanding its business in the United States in anticipation of higher profits.
After Trump won US elections in 2024, the entire crypto industry witnessed significant growth by the end of the year. With Bitcoin crossing the $100,000 mark and altcoins recording new ATH values, December 2024 brought new hopes of a bull run into the market. As the crypto market seems to be in the accumulation period at present, investors are estimating that a larger crypto bull run is awaiting this year.
Trump’s election and the short crypto bull run of December 2024 favored Tether in unprecedented ways. Several reports suggested that Tether made $10 billion in net profits in 2024. Being the largest stablecoin in the crypto industry, Tether benefitted the most from the crypto bull run and Trump’s pro-crypto stance.
Tether CEO Anticipates Higher Profits in the US
As per Bloomberg report, Tether CEO revealed plans to expand business in the US ahead of Trump’s inauguration as the President of the country. Donald Trump’s pro-crypto stance combined with the upcoming regulatory clarity, Tether expects more profits in the US.
In addition, Tether recently invested $775 million in a US-listed video-sharing company Rumble Inc. Referring to the same, Tether CEO stated,
“Tether’s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression.”
Trump’s inauguration, anticipation of more regulatory clarity around crypto, combined with Tether’s investment in Rumble present a great opportunity for Tether to expand business in the US. Thus, Tether expects higher profits in 2025 as a much bigger crypto bull run is estimated to take place this year.
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