Circle, relying on the underlying USD assets of USDC, achieved a return rate of nearly 5% and earned $1.7 billion in revenue over 24 years. However, after deducting various costs, the final profit is only about 0.5% 😂 Among them, the distribution cost actually consumed 60% of the revenue, It's about providing subsidies to Coinbase, Binance, and other platforms Then, employees and administrative staff spent 30% of their income It seems that working at Circle should be quite enjoyable Over the course of 24 years, 800+employees took away $260 million in wages ---Dividing line--- By comparison, Tether clearly has much higher human efficiency Tether has approximately 200 employees Created $13 billion in revenue in 24 years (mainly Tether not only earns interest margin, but also engages in other businesses such as investing in BTC/gold, mining, etc.) If investment returns are included, the cost-effectiveness ratio is about 30 times that of Circle 😂 It's horrible.