- Bitwise President believes Tether performed impressively in 2023.
- The stablecoin company generated $6.2 billion in net income in 2023.
- Tether’s net income is 78% of Goldman Sachs’ and 72% of Morgan Stanley’s.
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.
USDT @tether_to 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 @MaelstromFund pic.twitter.com/4GjVZZHjBr
— Teddy Fusaro (@teddyfuse) April 7, 2024
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 Tether Earns $6.2B in 2023, Competes With Traditional Financial Firms appeared first on Coin Edition.