Tether, the leading stablecoin issuer, generates substantial profits through interest on its cash-backed reserves and transaction fees. The company maintains a 1:1 peg to the US dollar, supported by assets including cash, Treasury bills, and short-term investments. Tether also earns revenue from fees associated with the issuance and redemption of USDT tokens, as well as from lending activities. With a market capitalization exceeding $180 billion, Tether remains the most widely used stablecoin in the cryptocurrency market.