⚡️ The Fed cut interest rates by 50 basis points, and the US dollar stablecoin industry lost 600 million dollars a year!
⚡️ The reserve funds of the five major issuers are revealed
The US dollar stablecoin industry is affected by the Fed's interest rate cut
Loss of interest income:
• The Fed cut interest rates by 50 basis points, and stablecoin issuers lost 625 million US dollars a year.
Reserve fund composition:
• Top five centralized stablecoin issuers:
• Total holdings of US Treasury bonds: $125 billion
Proportion of reserve funds: 8 0.2%
Specific issuer situation:
• Tether:
• Holding of US Treasury bonds and repurchase agreements: $93.2 billion
• Net profit contribution in the first half of 2024: $5.2 billion
• USDC (Circle Reserve Fund):
• Holding of US Treasury bonds: $28.7 billion
• Other issuers:
• FDUSD: $1.83 billion
• PYUSD: $634 million
• TUSD: $502 million
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