Tether Reports $6.2B Profit in 2023 as USDT Market Cap Grew to Record High

Through last year, the company booked $6.2 billion in net operating profits, with some $4 billion from interest earned on Treasury holdings. The company has directly benefited from the Federal Reserve’s campaign of raising interest rates to combat inflation, since that effort has lifted payouts from the fixed-income investments Tether buys.