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The public discussion on stablecoins has always seemed weirdly devoid of any talk about revenue...
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I heard Coinbase didn't realise there would be interest revenue with USDC at inception and let it all accrue to Circle.
Coinbase figured it out late last year and went "wait a minute"
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Replying to
Lol.
Yeah it generally seems unclear to me if people have net made money by building stablecoins.
Interested in 's thoughts on USDT--do you guys think it was a net win for you, or basically just a service to the industry?
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Tether started to service the industry to optimise arbitrage opportunities among crypto exchanges. You could park a bus in those spreads.
In 2017 the profit potential was already clear to the team. And with current monetary base Tether can't complain too much about revenues 😄
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Yeah I guess at $6b even 1%/year isn't too shabby
Though on the other hand I be you and Merlin would love to be able to sleep one of these days.
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