Stablecoin Success Sparks Competition as Users Seek Yield, Warns Wormhole Co-Founder
At the recent DAC 2025 event hosted by Mercado Bitcoin, Dan Reecer, co-founder of Wormhole, highlighted the growing discrepancy between the profits made by leading stablecoin providers—Tether and Circle—and the stagnant earnings for stablecoin holders. Reecer emphasized that these companies are essentially “printing money” by capitalizing on the current high-interest rate environment while users are left without returns. Tether reportedly achieved a net profit of $4.9 billion in the second quarter of this year. This financial success has boosted the company’s valuation to an estimated $500 billion during its latest funding round. Reecer noted that as interest rates remain elevated,












