So basically Tether Limited Inc. (obviously company behind Tether) posted that they had a PROFIT, not even revenue of $700 million in last fiscal quarter (Q1 2023). According to Rocketreach's information about company they have 44 employees (on Tether's official Linkedin it states 46 though so that is I guess the most accurate number we can go with).
So basically in just this fiscal quarter they had between $15.2-$16 million PROFIT per employee, so yes, not even revenue, just straight profits.
By googling the companies with highest profit per employee, a year old Wall Street Journal articles state a company called Air Lease being a company with higher annual profit per employee, and they basically had $4.5 million profit per employee in 2021. The second (Fannie Mae) on the list is company with $1.5 million profit per employee.
So basically Tether blows all of them out of water in just one fiscal quarter. Does it scare you a bit that one day Tether might depeg, fail like Luna and set back whole crypto market like we've never seen before?
Does it scare you a bit that one day Tether might depeg, fail like Luna
The question here isn't if that's gonna happen, the question is when it's gonna happen. Also BUSD et al. will get there before, probably.
and set back whole crypto market like we've never seen before?
Bitcoin does not care. I don't care, either.
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One would not be crazy to think Tether only has one employee, since Paolo is the only one who ever makes public appearances…
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If the mainstream media were not either completely ignorant of, or aware of but so antagonistic towards Tether, it seems like there is an amazing story to tell. Something that the likes of Wired might have done many years ago when it was a real tech publication.
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