Loading...
Market
Story
Tether Surpasses BlackRock with $6.2 Billion Profit in 2023, $700 Million More
Sep 11, 2024, 07:26 AM
Tether, a prominent player in the cryptocurrency market, generated $6.2 billion in profit in 2023, surpassing BlackRock's $5.5 billion profit for the same year by $700 million. With fewer than 100 employees, Tether's profit per employee stands at over $60 million, the highest on record. The company's assets under management (AUM) have reached $120 billion, and it charges a 5.2% management expense ratio (MER) on its tokenized money market fund. Tether's market capitalization has also seen significant growth, rising from $83 billion to $118 billion over the past year.
View original story
Similar markets
Less than $10 billion • 25%
$10 billion to $15 billion • 25%
$15 billion to $20 billion • 25%
More than $20 billion • 25%
Less than $90 billion • 25%
$90 billion to $100 billion • 25%
$100 billion to $110 billion • 25%
More than $110 billion • 25%
Bitcoin • 25%
Gold • 25%
US Dollar Reserves • 25%
Other • 25%
Increase by over $10 billion • 25%
Increase by $5-10 billion • 25%
Increase by less than $5 billion • 25%
No increase • 25%
Less than $12 billion • 25%
$12 billion to $13 billion • 25%
$13 billion to $14 billion • 25%
More than $14 billion • 25%
Less than $12 billion • 25%
$12 billion to $12.5 billion • 25%
$12.5 billion to $13 billion • 25%
More than $13 billion • 25%
Less than $4.5 billion • 25%
$4.5 billion to $5 billion • 25%
$5 billion to $5.5 billion • 25%
More than $5.5 billion • 25%
Top 3 stablecoin • 25%
Top 10 stablecoin • 25%
Outside top 10 • 25%
No change in position • 25%