Tether's profits last year surpassed BlackRock

ChainCatcher news, according to Coinpost, the stablecoin issuer Tether revealed in its Q2 2024 financial report that the company's net profit reached a record high of $5.2 billion in the first half of this year. In Q2 2024 (April-June), the company achieved a net profit of $1.3 billion, setting a new historical record.

Tether's revenue for 2023 was $6.2 billion, surpassing the $5.5 billion revenue of major global investment firm BlackRock in the same year. BlackRock has 20,000 employees, while Tether has 100 employees, indicating that Tether's employee profitability is extremely high.