Circle makes money whenever interest rates stay elevated, because its $60B+ of USDC reserves earn Treasury yield. It takes no credit risk and runs no trading desk, which makes it the cleanest business model in crypto. x.com 

World Liberty Financial's WLFI is a high-beta play on a regulated US digital dollar, and OCC approval is the key de-risking step. Its trust company won preliminary conditional OCC approval for a national trust charter to issue and custody its USD1 stablecoin, now about $4B. If final approval and institutional adoption follow, WLFI can re-rate on usage and fees. At about $0.06, down 85%+, risk-reward is asymmetric, but it is pure governance, heavily concentrated and faces Justin Sun's lawsuit. … Show more

Higher rates make Coinbase a surprising winner because it receives the revenue USDC earns on its reserves. With USDC's market cap stable and rates up, stablecoin revenue will likely be higher in 2H2026 and 2027. The case does not rest on crypto trading, which @gorsk4023 notes could suffer if rates hurt equities. x.com  x.com 

Stablecoin issuance looks set to explode, lifting Circle, Ethereum, Solana, Coinbase and Robinhood. Per Bloomberg, Washington is weighing a public-private push of regulated dollar stablecoins overseas to reinforce the dollar and boost short-term Treasury demand. If enacted, issuance could top $500 billion or approach $1 trillion in two to three years. Circle is the likeliest issuer partner, Ethereum and Solana are the main settlement chains, and Coinbase and Robinhood gain as trading platforms. … Show more

World Liberty's USD1 looks like a better stablecoin than Ethena's USDe, because it simply holds cash and Treasuries and has had no peg or collateral problems. Most criticism of USD1 is really about who profits from it, not whether it is safe. x.com 

Tokenized Treasury exposure strengthens Algorand's real-world-asset case because institutions are exploring this kind of adoption. Midas launched its mTBILL token on Algorand, bringing exposure to US Treasury-backed financial products onto the network. x.com 

RWAs being used as collateral make lending protocols where the growth will be. RWA liquidity reached $4.235B, up $439M (+11.6%) in 30 days. Morpho Blue leads at $734M, 1.7x Aave V3's $428M; Kamino Lend holds $413M, and the top five protocols account for 54% of RWA liquidity. x.com 

Circle faces pricing pressure because stablecoin infrastructure has low barriers to entry, which is why it stays an underweight with only small exposure. The risk showed when Circle fell 13% as Stripe, Coinbase and BlackRock backed a rival stablecoin, Open USD. x.com  x.com 

Circle will be fine despite the market treating OUSD as a threat, because USDC is the bigger brand and will remain DeFi's native stablecoin. OUSD is a corporate attempt to strip yield from issuers so its 160+ partners can launch their own stablecoins and keep the Treasury yield, without benefiting end users. USDC will always outgrow 'Visa USD', 'Shopify USD' or 'Target USD', and the moat is huge: there will only ever be two winners, Tether and USDC. This corporate attack on DeFi will pass. x.com  … Show more

Maple Finance is crushing institutional real-world-asset lending with real demand, real borrowers and real revenue, yet few people talk about it. It just had its biggest revenue month ever. Per @IAGMI_2025, the SYRUP token is criminally underrated and mispriced at $5B AUM and $25M revenue, with strong buybacks and almost full unlock, so no dilution; it is a comfortable hold. x.com  x.com