Tether is the best bank in human history! - Arthur Hayes at Longitude by Cointelegraph #shorts

Tether is the best bank that's ever existed in human history. They're the most profitable bank per employee ever in human history with 150 employees. And they generate something like $8 billion of net income every year. And it just goes to show what's possible with a decentralized public blockchain where all of your costs can be done with technology. And this is what the bank will look like in the future. And that's where Tether is so highly valued. Stablecoins will be a US dollar backed thing because outside of America, people within the fiat realm want a dollar, they want a dollar bank account, they want to own Treasuries, they want that yield, they want to buy US stocks. I think there's going to be three major stablecoins, Tether, Athena and usdc. They have the distribution, they have all the large crypto exchanges you have, the large payment processors are using them. If you're a social media company, I believe they're going to integrate those rather than do their own. So I think it's very difficult for a new issuer to come on the market and gain distribution.