Tether CEO Paolo Ardoino Celebrates USDT’s $91.5B Market Cap: ‘Tether Evolved’

Paolo Ardoino Celebrates Tether's Growth

Tether CEO Paolo Ardoino recently reflected on the remarkable growth of the company since its inception. In a post on X, Ardoino expressed his delight at the current standing of the company, with its USDT stablecoin achieving a staggering $91.5 billion market cap across multiple blockchains. Additionally, Tether boasts $4 billion in excess reserves and a diversified portfolio of investments in mining, energy, and artificial intelligence (AI).

Tether's Evolution

Ardoino emphasized the significant changes and growth that Tether has undergone in recent years. He acknowledged the immense size and importance the company has attained, particularly among millions of people in emerging markets and developing countries.

Highlighting the company's journey, Ardoino stated, "Tether evolved. We listened to our community, learned, and improved. It's an ongoing process, as no company can exist without facing challenges. However, our team remained focused and persevered through the obstacles."

Record-Breaking Market Cap

Ardoino also celebrated USDT's remarkable achievement of reaching a market cap of $95.4 billion, solidifying its position as the largest stablecoin in the cryptocurrency market. Tether's excess reserves, totaling $4 billion, are kept separate from the reserves that back the USDT available for trading.

Diversified Investments

Tether has actively invested in various initiatives, including mining, renewable energy, development platforms, and artificial intelligence (AI). Ardoino specifically mentioned investments in Holepunch, Synonim, Northern Data, and Tether Energy, illustrating the company's commitment to expanding and growing in different fields.

Compliance and Partnerships

Tether has recently emphasized its dedication to compliance by establishing strong partnerships with US government agencies such as the Secret Service and the Federal Bureau of Investigation (FBI).

Future Plans

Ardoino concluded by revealing Tether's plans to develop new products and further solidify existing ones by 2024. He confidently stated that these upcoming releases will be "mind-blowing."

What are your thoughts on Tether's performance in 2023? Share your opinions in the comments section below.

Frequently Asked Questions

Which precious metals are best to invest in retirement?

The first step to retirement planning is understanding what you have saved now and where you are saving money. Start by listing everything you have. This should include any savings accounts, stocks, bonds, mutual funds, certificates of deposit (CDs), life insurance policies, annuities, 401(k) plans, real estate investments, and other assets such as precious metals. Then add up all of these items to determine how much you have available for investment.

If you are under 59 1/2 you should consider opening a Roth IRA Account. Traditional IRAs allow you to deduct contributions out of your taxable income. Roth IRAs don't. However, you won't be able to take tax deductions for future earnings.

If you decide that you need more money you'll need another investment account. You can start with a regular brokerage account.

What is the best precious-metal to invest?

High returns on capital are possible with gold investments. It protects against inflation, as well as other risks. As people become worried about inflation, the value of gold tends rise.

It's a good idea to purchase gold futures. These contracts will guarantee that you will receive a specific amount of gold at an agreed price.

But, not everyone is able to afford gold futures. Some prefer to have physical gold.

They can trade their gold with other people. They can also sell their gold whenever they wish.

Some people would rather not pay tax on their gold. People buy gold directly from the government in order to avoid paying taxes.

This requires that you make multiple trips to the local post office. You must first convert any existing gold into coins or bars.

You will then need to obtain a stamp for the coins and bars. Finally, send the coins or bars to the US Mint. They melt the bars and coins into new coins.

These new coins and bars are stamped with the original stamps. This means they are legal tender.

You won't need to pay taxes if gold is purchased directly from the US Mint.

Which precious metal would you prefer to invest in?

What is the best way to make money with a gold IRA?

Yes, but not as much. It all depends on your willingness to take on risk. If you can afford to invest $10,000 every year for 20-years, you could possibly have $1,000,000 by retirement age. However, if all your eggs are in one basket, then you will lose everything.

Diversifying your investments is essential. Inflation is a problem for gold. It is important to invest in assets that increase with inflation. Stocks excel at this because they rise with increased profits. This is also true for bonds. They pay interest every year. They are great during economic growth.

But what happens if inflation is not present? In times of deflation, stocks are more valuable than bonds. Investors should avoid investing all of their savings into one investment like a stock mutual funds or bond.

Instead, they should consider investing in a mixture of different types and funds. They could, for example, invest in stocks and bonds. They could also invest both in bonds and cash.

This way, they have exposure to both sides of the coin. Inflation and depression. They will see a return over time.

Which is better: sterling silver or 14k-gold?

While gold and silver are both strong metals but sterling silver is less expensive than silver because it contains 92% pure Silver rather than 24%.

Sterling silver is also known as fine silver because it is made from a mixture of silver and other metals such as copper and zinc.

Gold is usually considered to be extremely strong. It can only be broken apart by extreme pressure. It would be much easier to break it apart if you dropped an object on top a piece gold.

But silver isn’t nearly as sturdy as gold. A sheet of silver would likely bend and fold if you dropped an item on it.

Silver is often used in jewelry and coins. Silver's value can fluctuate depending on the supply and demand.

Statistics

• SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
• The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
• To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
• The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)

External Links

wsj.com

• How do you keep gold in your IRA? It's Not Exactly Legal
  

regalassets.com

• Regal Assets America's Best Provider Of Alternative Assets For Retirement Accounts
  

en.wikipedia.org

• Taxpayer Relief Act of 1997 – Wikipedia
  

forbes.com

• Gold IRA – Add Sparkle to Your Retirement Nest Egg
  
• Understanding China's Evergrande Crisis – Forbes Advisor
  

How To

How to turn your IRA into a IRA with gold content

So you want to move your retirement savings from a traditional IRA into a gold IRA? This article will show you how to do it. Here's how you can do it.

“Rolling over” refers to the act of transferring money into an alternative type of IRA (traditional), or vice versa (gold). Rolling over an account offers tax advantages. Some prefer to invest directly in physical assets like precious and rare metals.

There are two types IRAs – Traditional IRAs and Roth IRAs. The difference between these two accounts is simple: Traditional IRAs allow investors to deduct taxes when they withdraw their earnings, while Roth IRAs don't. This means that if you have $5,000 invested in a Traditional IRA, you will only be able take out $4850 after five years. If you invested the same amount in a Roth IRA, however, you'd be able to keep every penny.

If you are looking to convert your traditional IRA into a gold IRA, here's what to know.

First, you will need to decide whether your current balance should be transferred to a new account. Transferring money will result in income tax being paid at the normal rate for earnings greater than $10,000. However, if your IRA is rolled over, these earnings will not be subjected to income tax until age 59 1/2.

Once you have decided to open a new bank account, You'll likely be required to provide proof of identities, such as a Social Security card, passport, and birth certificate. After that, you'll need to sign paperwork proving you own an IRA. Once you've completed the forms, you'll submit them to your bank. They will verify your identity as well as give instructions on how to send wire transfers and checks.

Now comes the fun part. You'll deposit cash into your new account and wait for the IRS to approve your requests. After approval, you'll receive a letter stating that funds can be withdrawn.

That's it! Now all you have to do is sit back and watch the money grow. You can also close your IRA and transfer the balance to a new one if you change your mind.

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