coindesk
Tether and Circle Are ‘Printing Money’ but Competition Is Coming: Wormhole Co-Founder
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TL;DR
Stablecoin giants like Tether and Circle are profiting from high-interest rates by not sharing the yield with holders, leading to competition from platforms like M^0 and Agora. Circle's acquisition of Hashnote aims to facilitate convertibility between cash and yield-bearing collateral on blockchains.
Summary
Stablecoin giants like Tether and Circle are profiting from high-interest rates by not sharing the yield with holders, leading to competition from platforms like M^0 and Agora. Circle's acquisition of Hashnote aims to facilitate convertibility between cash and yield-bearing collateral on blockchains.
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