Tether Empire: From 185 billion USDT to 14 billion USD CeFi lending institutions

[CryptoWorld] Many people only see Tether as a stablecoin issuer, but the company’s ambitions go far beyond that.

According to the latest report from Galaxy Research, Tether has built a vast business empire. USDT, as its core product, has a circulating supply surpassing $185 billion and remains the most widely used stablecoin in the crypto market. But more interesting is Tether’s outside-the-financial-sector布局——they have invested in agriculture and robotics companies, built their own Bitcoin mining facilities, and high-performance computing (HPC) data centers. Even at the application layer, Tether has made attempts: developing AI health app QVAC and a privacy-focused communication tool Keet.

From a financial perspective, the data is even more impactful. Tether has become the largest centralized finance (CeFi) lending institution in the crypto space, with a loan volume exceeding $14 billion. In terms of profitability, in the first nine months of this year alone, they paid over $10 billion in dividends to shareholders. What does this number indicate? Tether not only holds an absolute advantage in the stablecoin sector but its business model and diversified investments continuously generate cash flow.

No matter how you view Tether, this company has clearly evolved into a Web3-era financial empire, far beyond just a stablecoin project.