Why is Tether 213% bigger than Circle but 8,000% more profitable?

Circle has filed to go public and admits that it is 98% less profitable than Tether despite sharing a similar business model.
Circle has filed to go public and admits that it is 98% less profitable than Tether despite sharing a similar business model.
Tether has been minting USDT and buying bitcoin. MicroStrategy, Trump and others have bought more but why does the price keep crashing?
Garantex was sanctioned by the EU in February as it stepped up its efforts to bring an end to “Russia’s war of aggression against Ukraine.”
Tether has frequently promised to get an audit and has reiterated that promise again as it brings in a new CFO.
In December, Binance listed billions of dollars in excess proof-of-reserves but much of that capital buffer has now vanished from view.