Tether plans to launch multiple new products in 2024 and strengthen existing businesses

On December 27th, Paolo Ardoino, the CEO of Tether, posted on social media that Tether has not only continued to strengthen its market position with its stablecoin USDT in the past few years, reaching a new high market capitalization of about $9.1 billion, but has also increased its excess reserves by approximately $4 billion, demonstrating unprecedented stability and resilience in the financial industry.

In addition to consolidating its leadership position in the stablecoin market, Tether has also ventured into multiple innovative projects. For example, it has collaborated to establish Holepunch and Synonym, dedicated to building a new generation of internet layers and applications, promoting the development of P2P technology; and jointly exploring AI infrastructure acquisition with Northern Data. Additionally, Tether Energy has made significant progress in the field of Bitcoin mining.

Looking ahead to 2024, Tether plans to launch multiple new products and further consolidate its existing business.