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BTC194: Tether's Backing and Pear w/ Paolo Ardoino and Mathias Buus (Bitcoin Podcast)
Aug 7, 2024
Paolo Ardoino, a key player at Tether, and Mathias Buus, who collaborates on decentralized technology, dive into Tether's impressive Q2 2024 financials, boasting $1.3 billion in profit. They discuss the Pear initiative, promoting zero-cost, peer-to-peer infrastructure, and the open-source platform Keet. Special insights on eliminating server dependency unveil innovations using tunneling technology for secure communication. The duo emphasizes Tether's mission to support users in emerging markets while exploring the intersection of finance and decentralized technologies.
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Quick takeaways
- Tether's impressive financial standing, with a $1.3 billion net operating profit and $5.33 billion in excess reserves, showcases its resilience and role in digital currency stability.
- The Pear initiative aims to revolutionize communication with zero-cost, peer-to-peer infrastructure, emphasizing the elimination of server dependency for enhanced privacy and efficiency.
Deep dives
Tether's Financial Strength and Growth
Tether has reported impressive financial growth, with a net operating profit of $1.3 billion as of June 30, 2024, and excess reserves of $5.3 billion. Its portfolio includes over $97.5 billion in US Treasuries, showcasing a higher exposure to these assets than various countries, indicating strong financial stability. The leadership's strategy is to retain profits primarily in Bitcoin, underscoring their commitment to cryptocurrency investment. This financial approach is significant as it positions Tether as a major player in the digital currency market, with substantial buying power.
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