Stablecoin Giants to Lose $625 Million in Revenue After Fed Slashed Interest Rates by 50 Basis Points

The Federal Reserve’s 50 basis points rate cut earlier this month is set to cost lading stablecoin issuers around $625 million per month, as the interest earned on the reserves backing these stablecoins dropped as a result. That’s according to CCData’s latest Stablecoins & CBDCs report, which details that the five largest centralized stablecoins – […] source: https://www.cryptoglobe.com/latest/2024/10/stablecoin-giants-to-lose-625-million-in-revenue-after-fed-slashed-interest-rates-by-50-basis-points/