Why Tether Is the Secret Superhero of Crypto (And No One Noticed!)

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In a revelation that has left many scratching their heads and wondering if they missed a meeting, Alex Thorn, head of firmwide research at Galaxy Digital, has boldly proclaimed that Tether’s scale, profitability, and expanding business interests are currently subjected to an epic underestimation worthy of a cosmic misunderstanding.

Alex Thorn: Tether Has Quietly Become One of Crypto’s Most Powerful Firms

Alex Thorn-not to be confused with any garden-variety Alex-dropped this remarkable analysis in Galaxy Research’s weekly brief on December 12, shortly before it made its way onto X like a viral cat video. In his manifesto, Thorn painted a picture of Tether as the unsung hero of the crypto universe, operating under the radar despite its massive presence. It seems even the most powerful firms can be wallflowers at the cosmic dance!

Currently, Tether boasts over $185 billion of its flagship USDT stablecoin floating around like the last piece of cake at a party, making it the biggest issuer by a long shot. And just when you think they’ve peaked, they’re prepping a version that aligns with the proposed U.S. GENIUS Act. Because who doesn’t want to be compliant while holding a treasure trove of digital gold?

But wait, there’s more! Beyond the realm of stablecoins, Thorn meticulously cataloged Tether’s expanding operational empire. Think bitcoin mining, high-performance computing data centers, agricultural investments-yes, Tether is now in the farming business-and even a private messaging app that might just rival your mom’s group chat. Oh, and let’s not forget their venture into artificial intelligence health products that probably double as an excellent excuse for not going to the gym.

Tether has also taken on the role of a major lender in centralized finance (CeFi), with a loan book exceeding a staggering $14 billion. That’s right, folks-Tether isn’t just hanging around; it’s lending money like it just won the lottery!

Financially speaking, Thorn highlighted Tether’s profitability like it’s a trophy on a shelf. The company claimed to have paid out over $10 billion in dividends during the first nine months of 2025, all while raking in approximately $7 billion in annual interest from its U.S. Treasury bill holdings. Quite the tidy profit margin, wouldn’t you say? 💰

As Thorn pointedly noted:

“And Tether CEO Paolo Ardoino confirmed in September that the firm was raising capital at a $500 billion valuation, which would make it one of the biggest companies in the world. All this with possibly fewer than 200 employees. Maybe they’re using some sort of magical teleportation to get things done?”

The report also shone a spotlight on Tether’s contribution to Twenty One Capital, a newly listed bitcoin treasury firm on the NYSE. Tether generously provided 43,514 BTC to the company-a move Thorn dubbed a significant leap toward bringing offshore crypto wealth into the bustling U.S. markets. It’s like Tether decided to throw a lavish party and invited all the cool kids!

Thorn concluded that Tether has morphed into a diversified, globally connected entity, dabbling across finance, infrastructure, and technology-shifting gears from merely relying on stablecoin interest income. Talk about an identity crisis!

Thorn’s research brief comes hot on the heels of an S&P downgrade, which Tether pushed back against like a stubborn mule. “The traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system,” Tether’s CEO quipped, likely while sipping a piña colada in a hammock somewhere.

Tether’s ever-expanding reach into lending, infrastructure, and public markets suggests it’s playing a long game, one that’s far more strategic than your average game of Monopoly. Now that’s what we call a plot twist!

FAQ ❓

  • What is Tether?
    Tether is the issuer of USDT, the world’s largest stablecoin by circulating supply. You can practically hear it cheering for itself from across the galaxy!
  • Who authored the Galaxy Research analysis?
    The report was artfully crafted by Alex Thorn, head of firmwide research at Galaxy Digital. No pressure, Alex!
  • How large is Tether’s USDT supply?
    Galaxy Research estimates more than $185 billion USDT is currently in circulation. That’s a lot of digital dough!
  • What recent move did Tether make in U.S. markets?
    Tether capitalized TwentyOne with 43,514 BTC following its NYSE listing. Who knew Tether was such a generous benefactor?

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2025-12-16 02:34