Follow up to previous tweet: afaik the only profitable businesses in crypto are 

- exchanges
- some NFT marketplaces although it looks increasingly like their take rate is going to 0%
- metamask/consensys
- (maybe) some node infra providers

anything else?

co-founder stelo.com. theoretical cs phd dropout. into math, music, ml, macro, markets, surfing, writing amandhesi.net

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“The future is here — it’s just not evenly distributed.”  - William Gibson
https://nf.td/fblauer

They hold real dollars and get the yield from the bank/bonds

How are stablecoins profitable? By definition, they are just equal to USD. 