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Stablecoins might cut America’s debt payments?
When it comes to profit per employee, Tether is the most profitable company in the world. It may even be the most profitable business in the history of business. With $13.7 billion in profit last year and only around 165 employees, that’s over $83 million in profit per employee. It’s a staggering figure—blowing NVIDIA (NASDAQ:NVDA) and every other company out of the water. It’s literally off the charts. Has any business in history ever generated this much profit per employee? If there is, I’ve never heard of it. Tether gives anyone with a smartphone instant, global access to digital US dollars. With a market cap exceeding $162 billion and climbing, USDt (Tether) is the world’s largest stablecoin—and the fourth-largest cryptocurrency overall. Though calling it a "stablecoin"is something of a misnomer—government paper currencies, with their steadily eroding purchasing power, are anything but stable. In that sense, they’re less “stable” and more like “guaranteed-loss coins.” Tether claims to have over 400 million users globally—and is adding 30 million more every quarter. That’s explosive growth—reminiscent of Facebook (NASDAQ:META) at the height of its expansion. It’s no surprise that USDt is hugely popular in emerging markets and developing countries like Argentina, Venezuela, and Turkey—places where local currencies are rapidly losing value, and people turn to the US dollar as a relatively more stable store of value. USDt gives them access to US dollars they might not otherwise be able to get. Tether is like having a US dollar-based checking account—without needing a US bank. For billions of people, it’s simply a better way to hold and send dollars than the sluggish, outdated banking...