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News Explorer — Tether Pledges to Plow 15% of Profits into Bitcoin

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May 17, 3:21 pm
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Tether Pledges to Plow 15% of Profits into Bitcoin

Tether has announced that it will allocate up to 15% of its net realized operating profits to purchase Bitcoin, starting this month. This is in addition to the minimum reserves assets that 100% back tether tokens. The company already holds around $1.5 billion worth of Bitcoin in its reserves.

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