Tethers Billion-Dollar Profits and Bitcoin Purchase Plans with Paolo Ardoino

Tethers Billion-Dollar Profits and Bitcoin Purchase Plans with Paolo Ardoino

In Episode 50 of Season 5 of The Scoop, Tether & Bitfinex CTO Paolo Ardoino discusses the firm’s treasury management strategy, diversification plans, and profitability with The Block’s Frank Chaparro.

Episode 50 of Season 5 of The Scoop was recorded with The Block’s Frank Chaparro and Tether (USDT) & Bitfinex CTO Paolo Ardoino.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PodcastsStitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

Paolo Ardoino is the Chief Technology Officer for Tether (USDT) and Bitfinex.

In this episode, Ardoino talks through Tether’s treasury management strategy, including the firm’s recently announced Bitcoin (BTC) purchases and how the company is planning to use the $1.5 Billion in profit generated during Q1 of this year.

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Reports by Ardoino, Tether’s recent profitability is prompting the company to diversify:

“The beauty of our next period strategy is the fact that we can start diversifying ourselves from the pure crypto stablecoin offering and become a more round tech provider that that requires expertise in numerous important fields. So energy, communication, financial infrastructure are going to be the key of the following 6 to 12 to probably 48 months.”

Regardless of the bear market, the market capitalization of USDT is as of now near its record-breaking peak of $84.1 billion.

During this episode, Chaparro and Ardoino likewise discuss:

  • Why USDT is so trending on Tron
  • Tether’s key to success in emerging markets
  • The United States default and how Tether (USDT) is positioning
PEPE soars while BTC bounces back – Crypto market recap

This episode is brought to you by our sponsor CleanSpark.

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin (BTC) Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.


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