2024

April

Coin

<ul class="news-points"> 
 <li>Bitwise President believes Tether performed impressively in 2023.</li> 
 <li>The stablecoin company generated $6.2 billion in net income in 2023.</li> 
 <li>Tether’s net income is 78% of Goldman Sachs’ and 72% of Morgan Stanley’s.</li> 
</ul> 
Teddy Fusaro, President at Bitwise, has highlighted Tether’s impressive performance in 2023 compared with traditional investment platforms. In a recent post on X, Fusaro noted that Tether produced an estimated $6.2 billion in net income in 2023. 
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 USDT <a href="https://twitter.com/Tether_to?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@tether_to</a> produced an estimated $6.2 billion in net income in 2023. That's 78% of the number Goldman Sachs did ($7.9bn) and 72% of Morgan Stanley's ($8.5b). They have ~100 employees. GS has 49,000. MS has 82k. Source <a href="https://twitter.com/MaelstromFund?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@MaelstromFund</a> <a href="https://t.co/4GjVZZHjBr" target="_blank" rel="nofollow">pic.twitter.com/4GjVZZHjBr</a>— Teddy Fusaro (@teddyfuse) <a href="https://twitter.com/teddyfuse/status/1777034406030352656?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">April 7, 2024</a>
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</figure> 
According to the information shared by Fusaro, Tether’s net income in 2023 is 78% of Goldman Sachs’ performance during the same period, which was $7.9 billion. It was also 72% of Morgan Stanley’s net returns of $8.5 billion. 
On further comparison, Fusaro highlighted that Tether has only about 100 employees in its workforce compared t…
The post <a href="https://coinedition.com/tether-earns-6-2b-in-2023-competes-with-traditional-financial-firms/">Tether Earns $6.2B in 2023, Competes With Traditional Financial Firms</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Tether Earns $6.2B in 2023, Competes With Traditional Financial Firms

Coin Edition

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