Yeah #stablecoins grow 2x while net interest margins shrink 3x
Great outlook!https://twitter.com/CoinDesk/status/1250976124450021376 …
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Replying to @maxboonen
The public discussion on stablecoins has always seemed weirdly devoid of any talk about revenue...
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Replying to @SBF_FTX @SBF_Alameda
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 @maxboonen
Lol. Yeah it generally seems unclear to me if people have net made money by building stablecoins. Interested in
@paoloardoino's thoughts on USDT--do you guys think it was a net win for you, or basically just a service to the industry?3 replies 0 retweets 1 like -
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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Replying to @paoloardoino @maxboonen
Yeah I guess at $6b even 1%/year isn't too shabby
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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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