Golden Finance reported that Paolo Ardoino, CEO of stablecoin issuer Tether, said in an interview that the company is expected to achieve a net profit of more than US$10 billion by the end of this year. As Bitcoin and many other cryptocurrencies rise to all-time highs, demand for the U.S. dollar-pegged USDT stablecoin has also risen sharply. The token’s market capitalization has increased by nearly $50 billion this year and now exceeds $140 billion, according to data tracker CoinMarketCap. Tether makes most of its profits from investing reserves backing stablecoins, including USDT, in U.S. Treasuries, gold and other securities.