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IOSG The article discusses stablecoin profits, distribution channels, the GENIUS Act, and the impact of falling interest rates.
IOSG：Circle Publication,Coinbase Who captures users, and who actually earns money from stablecoins?
Do stablecoin issuers reap enormous profits? The party that truly determines where profits flow is the distribution channel. An in-depth analysis of the stablecoin business model reveals who controls value after the "GENIUS Act" and how falling interest rates will affect Circle and Tether.
Source: https://www.panewslab.com/zh/articles/01a0e87f-5e48-708f-b0f4-05ec0c8c311d
The title is attributed to “IOSG”, and discusses Circle issuance,Coinbase control of users, and the allocation of stablecoin profits.
The article states that stablecoin distribution channels truly determine where profits flow.
The article discusses the "GENIUS Act" and the impact of falling interest rates on Circle and Tether.
The evidence includes a link to a PANews article.
The following is analysis, separate from reported facts. Verify important claims independently.
This content is a summary of an article analyzing the stablecoin business model, focusing on how issuers and distribution channels divide profits, and noting that policy and interest-rate changes may affect the companies involved.
Stablecoin returns may depend not only on the issuer, but also on users and distribution channels; falling interest rates may change the relevant earnings environment.
Stablecoins can be understood as digital assets pegged to fiat currencies; this content focuses on who issues them, who reaches users, and how returns are distributed.
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An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
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