The post Stablecoin issuers capture 75% of total crypto revenue appeared com. Stablecoin projects remain the top earners in the crypto economy, capturing roughly 60% to 75% of total daily protocol revenues across major categories. Tether’s CEO, Paolo Ardoino, even stated that the firm is on track for $15 billion in profit this year and an extraordinary 99% margin-making it one of the most profitable businesses globally on a per-employee basis. Tether and Circle invest user deposits in safe, yield-bearing assets Stablecoins have emerged as a major source of cryptocurrency liquidity and are utilized in exchanges, decentralized finance systems, and cross-border payment systems. Since they offer more stability compared to other tokens, such as Bitcoin and Ethereum, among others, which experience rapid value fluctuations, they have been instrumental for businesses and institutional investors in value transfer. Stablecoin issuers make money by earning interest on the assets backing their tokens. Companies like Tether and Circle are investing user deposits in safe, yield-bearing assets-mainly U. S. Treasuries and cash-and keep the returns rather than sharing them with users. The GENIUS Act, enacted in July, codifies this principle by preventing authorized stablecoin issuers from distributing any form of yield to holders. Lawmakers intended to position payment stablecoins as cash-like instruments, rather than investments. Nonetheless, growing stablecoin competition has forced some projects to experiment with distinct forms of initially spreading value. USDe is one of the major disruptors to emerge, creating a synthetic dollar model that instantly yields returns to holders. Users keeping USDC on Coinbase can also generate a 3. 85% APY, though it was a creative check to the GENIUS Act’s issuer-provided yield prohibition. This represents a shift in how ROI is generated and distributed within the crypto community. BlackRock is increasingly involved in the stablecoin market In a report released in late September, Citi analysts predicted that stablecoin issuance could reach $4 trillion by the.