Tether's profits last year exceeded BlackRock's
ChainCatcher news, according to Coinpost, Tether, the issuer of stablecoin USDT, revealed in its Q2 2024 financial report that the company's net profit for the first half of this year reached a record high of $5.2 billion. In Q2 2024 (April-June), the company achieved a net profit of $1.3 billion, setting a new historical record.
Tether's revenue in 2023 was $6.2 billion, surpassing BlackRock's annual revenue of $5.5 billion from major global investment companies. BlackRock has 20,000 employees while Tether only has 100 employees which indicates that Tether's per capita profitability is extremely high.
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