IPO-rumored company beats every Wall Street giant with 99% profit margin

Core Insights - Tether claims a 99% profit margin and forecasts $15 billion in profits by year-end, a figure that would surpass major Wall Street firms [1][5][6] Financial Performance - Tether's projected profit of $15 billion for the year follows a reported profit of $13 billion in the previous year [5] - In comparison, Tesla's net profit fell by 37% year-over-year, while Apple's net profit rose by about 9% [2] Regulatory Environment - Tether operates in a regulatory gray zone, issuing USDT, the largest stablecoin, without being bound by U.S. auditing or disclosure requirements due to its headquarters in El Salvador [3] - The company provides "attestations" from a third-party accounting firm, but critics argue these do not equate to full independent audits, raising concerns about financial health [4] Market Position and Future Plans - Tether's supply has surged to $182 billion, reinforcing its dominance in the stablecoin market [6] - There are rumors of a potential $20 billion fundraising round, valuing Tether at approximately $500 billion, which has led to speculation about an initial public offering (IPO) [6][7] - Despite speculation, Tether's CEO has denied any plans for a public listing, contrasting with peer Circle, which went public in June [7]