Tether's Q2 Net Profit Reaches $1.3 Billion, Setting a New Record
Article is form Jinse
September 13, 2024
This article is translated by ChatGPT Show original
Gold Finance reported, citing Coinpost, that Tether, the issuer of stablecoin USDT, revealed in its second-quarter (Q2) 2024 financial report that the company achieved a record high net profit of $5.2 billion in the first half of the year. In the second quarter of 2024 (April-June), the company achieved a record high net profit of $1.3 billion.
Tether's revenue in 2023 reached $6.2 billion, exceeding that of BlackRock, a major global investment firm, which earned $5.5 billion in the same year. BlackRock has 20,000 employees, while Tether has 100, indicating that Tether's employees have extremely high profitability per capita.
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