Weekly Roundup 09/30/22 (CFTC comes after Ooki/bZX, the Fed abandons CFTC ambitions, the convenience yield of stables) (EP.355)
On The Brink with Castle Island
Stable Coins - The Convenience Yield of Cash
The demand for these things is unbelievable. If you had a stable coin bill that made sense, I think you'd have a huge bid in the market for treasuries. It's already happening in Europe where they want people to hold EU stable coins instead of dollar stablecoins. But if you're holding stable coins, obviously not getting the interest payment. US corporations like Circle and eventually banks will start to really capture the economic rent there.
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