Lets rewind the clock a little over a decade ago...
We go back in time and we decide we are going to invent a stable coin to help trade bitcoin.
We invent that coin, take people's money to give them the crypto, then just hold it for them.
Doesn't sound like a great business model right?
Wrong!
You get that money and you use it to buy risk free Treasuries and other short term risk free assets.
Now you are making $13 billion a year for doing almost nothing.
(Source: https://x.com/BitcoinNewsCom/status/1885340864777494977/photo/1)
What a racket!
Why didn't I think of that?!