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TechFlow News — Bitwise President Teddy Fusaro posted on X, citing data from Maelstrom showing that stablecoin issuer Tether generated a net profit of approximately $6.2 billion in 2023. This amount equals 78% of Goldman Sachs' net profit ($7.9 billion) and 72% of Morgan Stanley's ($8.5 billion). However, Tether has only around 100 employees, significantly fewer than Goldman Sachs and Morgan Stanley.
Bitwise President Teddy Fusaro posted on X, pointing out that according to data provided by Maelstrom, stablecoin issuer Tether generated a net profit of approximately $6.2 billion in 2023—equivalent to 78% of Goldman Sachs' net profit ($7.9 billion) and 72% of Morgan Stanley's ($8.5 billion). However, Tether has only about 100 employees, significantly fewer than Goldman Sachs and Morgan Stanley.
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