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

“We have a 99% profit margin. There is no other company in the world that has that," said Paolo Ardoino, CEO of stablecoin issuing company Tether. The bold claim comes along with an even more ambitious forecast: Tether expects to generate $15 billion in profits by year-end. To put that in perspective, Tesla’s (NASDAQ: TSLA) net profit fell by 37% year-over-year in its recent quarterly reports, while Apple Inc.'s (NASDAQ: AAPL) net profit rose about 9% year-over-year in its last quarter. By comparison, Tet ...