Tether generated $5.2 billion in profit in the first half of 2024, and with 123 employees, this is an annualized profit of $85.5 million per employee. 🤯
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Just think ... you or I could have started that business.
Is the profit all from Treasury interest?
That’s insane
sure maybe you or I could have started that business, but surely they worry one day their car brakes will mysteriously fail
I'm impressed.
They have rediscovered banking, and why banks today were able to rent seek their way to fully capture society
"Profit"
Tether truthers in disbelief
How is it not?
Yeild is a fiat phenomenon. If you belive yield is real than by extention fiat is a real measuring unit. Tether is purely foat financial engineering.
Cool but they can still spend those dollars
Within the fiat system. So an illusion of profit. Arguably it's not real until it's traded for #Bitcoin.
But is it real? I’ve got questions…I dunno why, but I do.
I admire your enthusiasm and I hate fiat too but their dollars of profit are accepted at >10,000x more marketplaces than Bitcoin.
Obviously the fiat system encompasses >99% of earth. So yes, their excess cash flow is indeed real profit.
All good. Different monetary systems. I don't own any fiat. I spend sats for daily living. I'm on the Bitcoin Standard. I'd highly recommend nostr:nprofile1qqsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcpp4mhxue69uhkummn9ekx7mqpp3mhxue69uhkyunz9e5k7qgkwaehxw309ahx7um5wghx7mnnv968xtn0wfnsurtqc6 book. When you do make it out of the fiat system that's when it was clearer for me. I like to replace the word $Dollar with something like "Magic Unicorn Shit" or "War Bucks". Makes the thought experiment of comparing unchanging decentralized #Bitcoin with infinite centrally controlled "dollars" easier and less loaded. Theyre all the same. Make believe.