Oh, gather ’round, dear readers, for a tale of Tether, the jolly giant of stablecoins! You see, the recent public listing of Circle, the merry maker of USDC, has sent ripples through the crypto pond, raising eyebrows and questions galore about whether Tether might don its finest suit and dance into the IPO ball. But fear not! Tether’s CEO, the ever-enthusiastic Paolo Ardoino, has made it as clear as a sunny day: “No need to go public!” he declared, as if he were swatting away pesky flies.
In a delightful chat on X (formerly known as Twitter, but who’s counting?), Ardoino responded to the curious crowd, quipping about the potential Tether IPO and tossing around a staggering $515 billion valuation like it was a piece of candy. “Why, that’s a beautiful number!” he exclaimed, as if he were admiring a particularly splendid cake. 🍰
Now, let’s break down the numbers, shall we? Tether is projected to rake in a whopping $13 billion profit for 2024, and a cheeky $7.4 billion in 2025 before all those pesky taxes and fees come knocking. This places Tether among the elite top 20 companies in the world, strutting ahead of titans like Coca-Cola and Costco. Who knew stablecoins could be so glamorous?
“Tether valuation at 515B is a beautiful number.
Maybe a bit bearish considering our current (and increasing) Bitcoin + Gold treasury, yet I’m very humbled.
Also truly excited for the next phase of growth of our company.Thank you everyone❤️”
— Paolo Ardoino 🤖 (@paoloardoino) June 7, 2025
Ardoino, with a twinkle in his eye, praised the evaluation as “beautiful,” hinting that it might even be a tad modest given Tether’s treasure trove of Bitcoin and gold. “Growth is our priority!” he chirped, doubling down on his stance that Tether has no intention of following in the footsteps of its rival, Circle.
Meanwhile, Circle is off to a roaring start with its IPO, launching on the New York Stock Exchange like a rocket! 🚀 The stock, initially priced at $31 per share, opened at a jaw-dropping $69 on June 5, 2025, soaring to an intraday high of $103.75 before settling down at $83.23. Talk about a rollercoaster ride!
Industry folks are popping the champagne, celebrating Circle’s triumph as a monumental leap for stablecoins and the crypto realm. Roshan Robert, the U.S. CEO of the OKX exchange, chimed in, saying Circle’s IPO “demonstrates that crypto firms can operate transparently and compliantly in U.S. markets.” Well, isn’t that just peachy? 🍑
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2025-06-09 14:50