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The Most Profitable Business Per Employee in the World [Tether]www.piratewires.com/p/the-most-profitable-business-per-employee-in-the-world
439 sats \ 7 comments \ @k00b 23h tech
without paywall: https://archive.md/RFWRw
150 employees generated $14 billion in profit — $93 million per employee — in 2024.
This is new to me:
How to explain the close relationship between Tether and Cantor, the favorable deal? The secret sauce of the partnership lies in the fact that Cantor is a primary dealer: one of just 24 US firms that is able to do business directly with the Federal Reserve. In practical terms, this means that if a flood of users tries to redeem USDT for dollars, Tether can meet the demand right away, because the Federal Reserve relies on Cantor, as a primary dealer, to help keep the government bond market liquid. This status gives Cantor a direct line to the Fed: when Tether needs cash, Cantor can sell US Treasuries straight to the central bank. No delays, no intermediaries. In effect, Tether has immediate access to dollars through the safest, most liquid assets on earth. No other stablecoin issuer has that kind of firepower.
Does Cantor sound familiar?
Notably, Howard Lutnick, Cantor’s former chairman and CEO, now serves as Secretary of Commerce in the Trump administration.
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23 sats \ 2 replies \ @grayruby 23h
Stacker News soon.
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40 sats \ 1 reply \ @Coinsreporter 23h
Do you imagine one day SN went public and listed on an exchange? How much will you own?
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23 sats \ 0 replies \ @grayruby 23h
I guess that would depend on the valuation and what they price the shares at but I would definitely be a buyer.
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0 sats \ 0 replies \ @Car 15h
In response, Paolo usually points to cases where illicit funds moved undetected through banks, card networks, and payment processors — only to be flagged and frozen once they hit Tether. The company has assisted in over 400 law enforcement operations in the US and works with 230 agencies across 50 countries.
sounds like the deep state, it’s like just use sats and stay the f away from these 💩coins if your a pleb
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0 sats \ 0 replies \ @kepford 19h
Been thinking about Tether for a long time and it indeed is fiat in its unit of account so its going to go down forever. Its not stable in that sense. But we live in a world of perceptions and as the US dollar is the unit of account that has the most influence world wide things like Tether have a massive demand for the unbanked and the banked. I imagine this is largely due to the reality that using Tether is not hard in places where people can't use dollars digitally.
If I wasn't a bitcoiner I think I'd be on board with USDT. It isn't free banking but it kinda feels like it. Its not hard money but it is digital money. It is fully centralized though and censors transactions.
Here's the other thing I wonder about it. Is Tether a threat to Ripple and other projects like XRP? The XRP maxis will probably say it isn't but I wonder about it.
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0 sats \ 0 replies \ @kepford 19h
What I wonder is if Tether has already won the fiat coin market at this point or if banks are all going to emulate what they have done. I kinda think the later will be the case but I'm not 100% on this due to the Lutnick connection.
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0 sats \ 0 replies \ @kepford 20h
And Lutnick's son is running Cantor today.
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