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Post: Tether Holdings Reports Record-Breaking Net Profit of $2.85 Billion in Q4 2023 – Find Out How

Tether Holdings Reports Record-Breaking Net Profit of $2.85 Billion in Q4 2023 – Find Out How

Key Points:

  • Tether Holdings Limited, the company behind the stablecoin Tether (USDT), reported a record-breaking net profit in the last quarter of 2023.
  • The net profit of $2.85 billion was primarily driven by earnings from U.S. Treasury securities and contributions from gold and Bitcoin reserves.
  • According to an analysis, Tether employs 125 people, resulting in a net profit per employee of $22.8 million.

Elaboration:

Tether Holdings Limited, the company responsible for the popular stablecoin Tether (USDT), has announced a record-breaking net profit for Q4 2023. According to their attestation report, the company earned $2.85 billion during that period, with a significant portion coming from net interest on U.S. Treasury securities. The remaining balance was contributed by Tether’s reserves in gold and Bitcoin. Additionally, an analysis by Zippia reveals that Tether currently employs 125 people, resulting in an impressive net profit per employee of $22.8 million.

Hot Take:

The substantial net profit generated by Tether in Q4 2023 demonstrates the success of their stablecoin business model. The earnings from U.S. Treasury securities showcase a conservative approach to investing, providing stability and consistent returns. Tether’s ability to generate such significant profits per employee further highlights the lucrative nature of the cryptocurrency industry. This news reinforces Tether’s position as a leading stablecoin issuer and suggests a positive outlook for their future growth and development.

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