Tether’s stablecoin USDT is currently dominating the crypto market, USDT, which has made $148.98 million in the past week, according to DefiLlama.
This figure outpaces its competitors, with Circle earning $49.25 million, Hyperliquid $31.18 million, Tron $13.96 million, and Pump.fun $12 million, which makes Tether the leader in the US-dollar-backed stablecoin.
Tether has an approximate of 100 employees, but its output is remarkable. To put it in perspective, JPMorgan Chase made a profit of $8.5 billion employing more than 317,000 people, which highlights the high profitability of a small scale in the case of Tether.
Its growth aspirations are supported by the fact that the firm has reserves of $162.57 billion. Tether is going global and particularly in Asia where the adoption of digital assets is increasing.
Despite the good performance, the company continues to be under regulatory scrutiny and combats fraud, most recently collaborating with blockchain companies to freeze up to $23 million in illegal USDT.
The increase in revenue is due to increased crypto trading and new stablecoin issues, which also increase the overall market activity. Meanwhile, rivals like Circle USDC face hurdles, further strengthening Tether’s lead in the stablecoin market.
Investors closely monitor Tether as it innovates, carefully balancing growth with regulatory requirements in a fast-moving market. Its robust performance underscores the growing importance of stablecoins like USDT in both crypto trading and global finance.
Also Read: Tether Reports $4.9B Q2 Profit, Holds $127B in Treasuries, $20B USDT