Tether CEO Paolo Ardoino announced that the company has no plans to go public, following Circle's recent IPO on the New York Stock Exchange. Ardoino mentioned that a speculative valuation of $515 billion, suggested by Artemis CEO Jon Ma, might actually be low given Tether's growing treasury of Bitcoin and gold. Ardoino described the $515 billion figure as a 'beautiful number' but indicated it could be 'a bit bearish' considering the company's assets. He expressed excitement for Tether's future growth, highlighting its position as the third-largest cryptocurrency by market capitalization, alongside rival Circle, known for its USDC stablecoin. On April 24, it was revealed that Tether would acquire a majority stake in Twenty One Capital, a Bitcoin treasury company, which has quickly become a major holder of Bitcoin. Ardoino's views reflect confidence in Tether's financial positioning and ongoing potential in the cryptocurrency landscape.

Source 🔗