Maelstrom reports Tether Competing with Goldman Sachs and Morgan Stanley
According to Author Hayes' investment firm Maelstrom, Tether's net profit in 2023 was about $6.2 billion, which is 78% and 72% of the net profit of Goldman Sachs and Morgan Stanley respectively. Also – Tether has about 100 employees, while Goldman Sachs and Morgan Stanley have 49k and 82k employees respectively.
A post by Bitwise President:
This shows that crypto companies can make amazing profits with low expenses; However, this also shows that crypto companies are not creating enough jobs.
OTHER NEWS
BITCOIN
० Bitcoin Bull Race the ward $70k-$72k
० El Salvador's Call for Bondholders
Nayib Bukele has officially launched the purchase offer for El Salvador's first external debt, which is due from 2025 to 2029. This is a public and voluntary repurchase available to all Republic of El Salvador bond holders.
० Asia Microstrategy for Bitcoin
Sora Ventures, a Taiwan-based investment company, has collaborated with Metaplanet, a Tokyo Stock Exchange-listed company, to create "Asia Microstrategy," which would use Bitcoin as a primary financial asset.
EXCHANGE
० Earn
KuCoin India announces 250k promotion airdrop
KuCoin is attempting to grow its Indian business with appealing airdrops, and has released a $250,000 Airdrop pool exclusively for Indian users.
० Campaign period: is between 11:00 AM of April 8, 2024 to 11:April 14, 2024 (UTC).
० Users have to promote the KuCoin Indian Telegram Community; KuCoin will airdrop $50k when their channel will reach 60k, 70k, 80k, 90K, and 100k.
० Launch
Launch of Hashkey Global
Hong Kong-based exchange Hashkey has announced the launch of Hashkey Global using a Bermuda license. Hashkey considers Coinbase as its competitor and aims to surpass it within five years, while refusing to consider Binance as a competitor, citing it as a non-compliance.
International Incident
ZachXBT's posts cited by UN
Crypto detective and tracker ZachXBT's posts were cited by United Nations.
