Tether

Tether is a stablecoin that seems impossibly simple. For every dollar held in a Tether account, the company maintains one dollar in bank reserves. Tether became the most profitable company by employee count. In twenty twenty-three, with fifteen employees, the company earned five point two billion in profit. Tether holds roughly seventy billion dollars in customer reserves across money market funds and short-term Treasury bills, earning five percent annual interest. Seventy billion at five percent generates three point five billion annually. Tether captures most of this spread by monetizing the float, collecting interest on dormant capital. Crypto traders faced a real problem: hold dollars without exiting the crypto ecosystem.