Tether has emerged as a leading stablecoin, as evidenced by the highlights of its latest quarterly attestation. Also, its native ecosystem is leaping forward with Tether Edu, an educational initiative that will be available to people across the world.
The rise is noteworthy, considering the crypto segment has been in turmoil since the announcement of the Bitcoin ETF and its approval. One reason is that some portion of Tether’s investment is allocated to BTC.
Tether’s Financial Success
To put things into perspective, all the major aspects of Tether in its quarterly attestation have shown positivity. For instance, the market cap has reached the milestone of $100 billion, and profits have reached $2.85 billion in a single quarter. The market cap pertains to its stablecoin alone.
Next, its net operating profit is $6.2 billion, out of which it is estimated that $4 billion has come in the form of interest from Treasury holdings. Also, efforts by the Federal Reserve Bank to curb inflation have come in handy for USDT and, hence, Tether.
More sources of income have come out to be reverse repo and money market fund investments, along with gold. This is on top of Bitcoin, as mentioned earlier. Excess reserves come to $5.4 billion, with assets worth $97 billion and liabilities worth $91.6 billion. Tether has also made it public that its investment initiatives are driven by Bitcoin mining, telecommunications, and artificial intelligence (AI).
So far, this has helped blockchain enthusiasts prove that the technology has real-world utility.
Moving forward, Tether is working to improve these numbers in the ongoing quarter of 2024. Therefore, it has ventured into the digital education segment with Tether Edu.
Tether Edu – Global Education Drive
Per the official announcement, Tether intends to foster the accessibility of digital skill development across the world. A major focus is on the markets of the Commonwealth of Independent States, Europe, Asia, the Middle East, and Latin America, to mention a few.
Tether Edu has crafted hybrid courses in association with experts and pioneers hailing from the industry. Tailored workshops and masterclass programs will also be listed on the platform to cover educational areas like AI, design, and coding. Paolo Ardoino has called this a leap forward, adding that it is a part of their sustained commitment to drive digital education all over the world.
The Chief Executive Officer of Tether has highlighted that the launch of Tether Edu is based on the belief that innovative financial tools are capable of rewriting economic history. Tether Edu aims to bridge the knowledge gap, ignite economic growth, and empower individuals with the required skills.
The announcement about Tether Edu comes days after Tether made strategic investments and collaborated with the likes of Bitkub and the Academy of Digital Industry in Georgia. Together, they will help streamline access to educational resources while raising awareness about blockchain technology and stablecoins.
Tether is on a high note, with financial success booked in the last quarter of 2024. An entry into the digital educational campaign takes its efforts forward by underscoring its commitment to blockchain technology and stablecoins.