DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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You must have heard of Tether.
It is a stablecoin.
A stablecoin is a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset, such as a fiat currency or gold.
In the world of cryptocurrency, stability is often as elusive as it is desirable.
Enter Tether, the leading stablecoin, which has emerged as a HUGE winner in a sea of digital currency volatility.
Tether’s journey is really quite amazing.
Tether’s concept is simple yet revolutionary.
Pegged to fiat currencies, it offers a stable digital asset, immune to the wild price swings typical of cryptocurrencies like Bitcoin.
But Tether’s journey hasn’t been without its share of skepticism and controversy.
Critics have long questioned the adequacy of its reserves and the transparency of its operations.
Yet, Tether has not only weathered these storms but thrived.
The company’s recent performance speaks volumes.
In the last quarter alone, Tether reported a staggering $2.85 billion profit, contributing to an annual run rate of $11.4 billion.
These numbers are not just impressive; they’re record-breaking, surpassing the profits of financial giants like Goldman Sachs.
Keep in mind Tether is barely 9 years old and employs just 125 people.
This feat becomes even more remarkable considering Tether’s lean operation, potentially yielding over $100 million in annual profit per employee.
The company holds a diversified portfolio, including U.S. Treasury bills, reverse repo, and money market fund investments, along with other assets like Bitcoin and gold.
This approach has paid off handsomely, especially in a high-interest rate environment.
“According to the latest quarterly attestation signed by BDO Italy, Tether disclosed $97 billion of assets in reserve against $91.6 billion in liabilities as of Dec. 31. This translated to $5.4 billion of excess reserves backing Tether’s stablecoins.”
Plus BTC is rising again, giving them a further boost in 2024.
Moreover, Tether’s role in the crypto ecosystem cannot be overstated.
As the most popular stablecoin, it serves as critical infrastructure, facilitating trading and lending in the digital asset space.
With a market cap nearing $100 billion, its influence is undeniable.
The network effect is real.
The more people use it, the more trust and widely adopted it gets and it perpetuates.
This is classic.
Actual blockchain technology to solve real-world problems.
In a domain where critics often dismiss crypto assets as mere speculative tools, Tether stands as a counterargument, providing a stable, efficient means of value transfer.
It proves that with the right approach, stability and profitability are achievable, even in the volatile world of digital currencies.
Sure, it has its controversies and problems, but who doesn’t?
Perhaps USDC can be a fair competitor to balance the market forces a little.
I still can’t believe that you can make so much money from issuing stablecoins.
As such, how different is Tether from a global bank like JPMorgan Chase?
-
Do you own any USDT?
-
#Tether #Stablecoin #Cryptocurrency #Blockchain #DigitalAssets #FinancialSuccess #CryptoMarket #InvestmentStrategy #USDT #MarketCap #BlockchainTechnology #CryptoEcosystem #FinancialManagement #CryptoSuccess #DigitalCurrency #CryptoInnovation #Profitability #CryptoStability #FinancialTransparency #CryptoFuture #MarketInfluence #CryptoModel
You must have heard of Tether.
It is a stablecoin.
A stablecoin is a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset, such as a fiat currency or gold.
In the world of cryptocurrency, stability is often as elusive as it is desirable.
Enter Tether, the leading stablecoin, which has emerged as a HUGE winner in a sea of digital currency volatility.
Tether’s journey is really quite amazing.
Tether’s concept is simple yet revolutionary.
Pegged to fiat currencies, it offers a stable digital asset, immune to the wild price swings typical of cryptocurrencies like Bitcoin.
But Tether’s journey hasn’t been without its share of skepticism and controversy.
Critics have long questioned the adequacy of its reserves and the transparency of its operations.
Yet, Tether has not only weathered these storms but thrived.
The company’s recent performance speaks volumes.
In the last quarter alone, Tether reported a staggering $2.85 billion profit, contributing to an annual run rate of $11.4 billion.
These numbers are not just impressive; they’re record-breaking, surpassing the profits of financial giants like Goldman Sachs.
Keep in mind Tether is barely 9 years old and employs just 125 people.
This feat becomes even more remarkable considering Tether’s lean operation, potentially yielding over $100 million in annual profit per employee.
The company holds a diversified portfolio, including U.S. Treasury bills, reverse repo, and money market fund investments, along with other assets like Bitcoin and gold.
This approach has paid off handsomely, especially in a high-interest rate environment.
“According to the latest quarterly attestation signed by BDO Italy, Tether disclosed $97 billion of assets in reserve against $91.6 billion in liabilities as of Dec. 31. This translated to $5.4 billion of excess reserves backing Tether’s stablecoins.”
Plus BTC is rising again, giving them a further boost in 2024.
Moreover, Tether’s role in the crypto ecosystem cannot be overstated.
As the most popular stablecoin, it serves as critical infrastructure, facilitating trading and lending in the digital asset space.
With a market cap nearing $100 billion, its influence is undeniable.
The network effect is real.
The more people use it, the more trust and widely adopted it gets and it perpetuates.
This is classic.
Actual blockchain technology to solve real-world problems.
In a domain where critics often dismiss crypto assets as mere speculative tools, Tether stands as a counterargument, providing a stable, efficient means of value transfer.
It proves that with the right approach, stability and profitability are achievable, even in the volatile world of digital currencies.
Sure, it has its controversies and problems, but who doesn’t?
Perhaps USDC can be a fair competitor to balance the market forces a little.
I still can’t believe that you can make so much money from issuing stablecoins.
As such, how different is Tether from a global bank like JPMorgan Chase?
-
Do you own any USDT?
-
#Tether #Stablecoin #Cryptocurrency #Blockchain #DigitalAssets #FinancialSuccess #CryptoMarket #InvestmentStrategy #USDT #MarketCap #BlockchainTechnology #CryptoEcosystem #FinancialManagement #CryptoSuccess #DigitalCurrency #CryptoInnovation #Profitability #CryptoStability #FinancialTransparency #CryptoFuture #MarketInfluence #CryptoModel
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