According to ChainCatcher, according to Coinpost, Tether, the issuer of the stablecoin USDT, revealed in its second quarter (Q2) financial report of 2024 that the company's net profit in the first half of this year reached a record high of US$5.2 billion. In the second quarter of 2024 (April-June), the company achieved a net profit of US$1.3 billion, a record high.
Tether's revenue in 2023 was $6.2 billion, exceeding the $5.5 billion revenue of BlackRock, a major global investment company, in the same year. BlackRock has 20,000 employees, while Tether has 100 employees, indicating that Tether's per-employee profitability is extremely high.
