Tether has just 13 listed employees on LinkedIn. Source
There is just over $62bn Tether in existence, meaning Tether theoretically has $62bn under their control. Source
That is over $5bn in assets per employee of Tether
If that seems comically low it's because it is. It's a world record for total amount of money managed per employee.
The only similarly small number of employees for such a large amount of money under management was Bernie Madoff's ponzi scheme which had $50bn under management with just 25 employees. Source
What benefit is there to having such a low number of employees? Lower costs yes but with the money they control and need to invest surely it would make sense for them to have more than just 13 employees doing this?
Or is it because it's easier for them to conceal fraud when there's only a handful of people being exposed to it and most of them have a large interest in keeping the fraud going.
Tether has just under $30bn in commercial paper (source) which makes it one of the largest US commerical paper market investors in the entire world alongside the likes of Vanguard (17600 employees) and BlackRock (16500 employees). THIRTEEN EMPLOYEES EVALUATING THE CREDITWORTHINESS OF NEARLY 30BN IN COMMERCIAL PAPER LOANS AND WITHOUT THE OVERSIGHT OF AUDITING.
Remember: Tether has never been properly audited, refuses to be audited and has been caught lying through their teeth multiple times
Does this not absolutely terrify anyone else?
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