$100,000,000+ in annual profit per employee

Sam Altman recently talked about how with AI, we soon will see one person billion dollar companies (that's insane amount of 8000 crore+). This is a story for another day, but we already have a crypto native Stablecoin company making the insane profits with super low human capital.

Tether, which is the leading stablecoin has almost $100 billion in various fiat currencies that have been tokenized on different blockchains. Stablecoins for context are cryptocurrencies peeged to a dollar (more on these later in next few posts)

Here is a look at some stats:

1. Profit for the quarter: $2.85B, of which ~$1B in net operational profit (mainly US t-bill interests)

2. ~$1.85B from gold and bitcoin holdings.

3. Total profit for 2023: $6.2B

All this with just around 70-100 employees!! Here’s a snippet of a tweet for comparison.

Stablecoins, including Tether, USDC, and others, will continue to be very popular around the world as people look for a way to send stable value quickly and inexpensively. Case in point is Argentina, which has experienced a massive currency inflation in the last decade and recently elected a President who aims to reduce the inflation by adopting Bitcoin. People in Argentina want to move their Pesos to Dollars which are limited which has given a rise to a black market for Dollars.

And now, they have a way out, with stablecoins they can actually hold their wealth in a currency pegged to a dfollar and can move in a fraction of a second at the cost of a penny.

And numbers show that. Tether is proving that it is a serious business being built onchain, goes to validate the clear use cases of Digital Assets. The masses will come eventually.

Till then, hold on to your dear assets

The global cryptocurrency market cap today: $1.73 Trillion

Daily change: -0.11% | Yearly change: 54.59% 

Bitcoin (BTC) is the largest cryptocurrency with a market cap of $845 Billion.

Weekly change: 3.26% | YTD change: 1.83%

Another important metric is Bitcoin dominance which can be used as a rough indicator of the relative strength of Bitcoin versus other cryptocurrencies. A high Bitcoin dominance means that Bitcoin has a large market share and is potentially more influential in the overall cryptocurrency market and vice-versa.

Bitcoin dominance: Current Year: 51.14% | Last year (Feb 2023): 41.44%

The market sentiment has greed levels in the higher range with current Bitcoin and Altcoin rally

Note: The data used is based on metrics like Volatility, Surveys, Bitcoin Dominance, Social and Google Trends. Source: Coinstats

Let's have a look at Ethereum supply changes post its merge to a PoS blockchain from PoW.

The significance of the chart - understand how the supply of Ethereum is decreasing post the merge, which means “deflationary economics” for the Blockchain

Supply change since merge POS -342,887 ETH

The graph highlights POS issuance since the merge. Impressive numbers, look super bullish for ETH long term given the supply of ETH is not growing as before

A Bitcoin ETF Will Never Be Your Bitcoin Bitcoin ETFs give investors exposure to price movements but not to the financial ownership and sovereignty that makes crypto different from other financial assets, says Pascal Gauthier, Chairman and CEO at Ledger.

Jupiter's JUP Token Rockets to Top 10 DEX Minutes After Airdrop The token of Solana-based DEX aggregator Jupiter shot to over $900 million within 30 minutes of its 10am EST launch.

Glad if this helps folks

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research