[vscapitalx]

Short answer: yes but not anymore.

They have a shady past but quickly realized they had lucked into a WILDLY profitable business. That first 10% of their existence is debated constantly and is what you see referenced constantly online when Tether is labelled as shady.

They make a disgusting amount of money and it keeps snowballing. This annoys people who want them to implode for earlier crimes.

For context they are more profitable than Blackrock.

[pjc50]

.. how are they profitable? Market making? Tbill interest? TX fees?

[kristjansson]

> Tbill interest

or similar. They have $100bn dollars and their only job is not to lose any of it.

[jgilias]

In this interest rate environment they’re basically printing money.

[Yizahi]

Giancarlo literally prints these tokens from his laptop. The ultimate profit scheme.