Coinspeaker
USDT Issuer Tether Outperforms Big Banks with Strong 2023 Earnings

Tether, the issuer of the world’s largest stablecoin USDT, has attained a key milestone in the entire financial space with its net income surging to a staggering $6.2 billion in 2023. As per Teddy Fusaro, president at Bitwise, this figure comes pretty close to the numbers reported by some of the top banking giants such as Morgan Stanley and Goldman Sachs.

USDT @tether_to produced an estimated $6.2 billion in net income in 2023.

That's 78% of the number Goldman Sachs did ($7.9bn) and 72% of Morgan Stanley's ($8.5b).

They have ~100 employees. GS has 49,000. MS has 82k.

Source @MaelstromFund pic.twitter.com/4GjVZZHjBr

— Teddy Fusaro (@teddyfuse) April 7, 2024

Interestingly, Tether achieved this historic milestone with just 100 employees, demonstrating ...