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25 sats \ 2 replies \ @grayruby OP 6 Jun \ parent \ on: Circle is wildly overvalued Stacker_Stocks
If they start to offer users a share in the yield it becomes a race to zero like brokerage fees and the entire business model becomes about AUM not profit. If they need volume to 5x now they definitely need it to 10x or more if they are sharing the yield. The more treasuries they hold the more risk. They are short term but even small changes in price at such a large market cap could put them at risk of the peg breaking.
I'm actually surprised USDT hasn't started to domicile to the US yet and/or get listed as a public company.
Supposedly Cantor is their bank....so all their funds are already held by US custodian...so it should be pretty straight forward for them to at least create a Tether LLC somewhere and become a domestic company.
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I am sure they will have a US division at some point.
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