The wonderful and crazy world of stablecoins – Creed Capital Crypto News
Have you heard of Tether?
This little-known company issuing stablecoin USDT—now headquartered in El Salvador—is estimated to have earned over $5 billion in profit in 2024, with fewer than 200 employees.
Meanwhile, its U.S.-based counterpart Circle, the issuer of the stablecoin USDC and fully regulated under U.S. law, generated $1.68 billion in revenue last year and is preparing for a highly anticipated $10 billion IPO. These staggering figures raise an obvious question: how are companies making billions of dollars simply by issuing stablecoins? To understand this, we must first ask:
What is a stablecoin?
A stablecoin is a type of cryptocurrency designed to “hopefully” maintain a fixed value relative to an underlying…
