👂🏼Come on, Listen to the Money Talk (Moneytalks) 👄
Trickle-Up Economics: How Stablecoins Perfected the Oldest Trick in Banking Samsung's Galaxy Unpacked demo last month showcased a partnership: USDC , live on stage, was integrated into Samsung Wallet . Circle hasn't confirmed it. Samsung hasn't named an issuer . But the image did its job — it got people talking about who actually profits when a stablecoin ends up in your pocket. The answer is more interesting than the demo. Circle, the company behind USDC, generated $653 million in revenue last quarter. Ninety-four percent of that came from one place : interest on the Treasury bills and cash backing every dollar of USDC in circulation. Not staking , not trading fees, not some exotic cryptic mechanism — plain old Treasury bill interest , the same thing available to anyone with a brokerage account. Circle just does it at a scale most of us can't. Here's the part worth considering : That interest exists because someone put real dollars into USDC. The ...