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Yeah, so tether's tether obviously is larger from market cap perspective. And we do we do use tether as well, I think a lot of our counterparties overseas, you know,
Yeah, so we we are definitely big users of USDC. We, you know, we have the on off ramps with circle and Coinbase to go in and out of dollars and USDC at one to one basically at any time. And it's a great way to basically, you know, be able to lend out dollars, but on, you know, on the blockchain, right, as an ERC 20 token to counterparties that can seamlessly use that to go in and out of, you know, positions, whether it's BTC, either other crypto. So we're super active in USDC, it's definitely o
In terms of can the market handle it? There's a lot more cash that the market can absorb right now. And you can kind of see that, like I mentioned earlier, and kind of the implied annualized basis of these of the market, right, it's implying right now, even like 10% and on stablecoin. So, you know, also Genesis right now, we're still borrowing more, more and more USDC and dollars from the market. I think other platforms out there are still cash hungry as well. And until the spreads kind of close
Yeah, I think so one like that, that's the question that I think like, that's the question that's ultimately raising eyebrows from from from a regulator's perspective is like, you know, how can we best protect the retail investor? So I do I do think that like, yeah, there's, it's certainly an area that's, that's super gray. There's probably going to be a ton of a ton more regulatory guidance that ultimately comes out, you know, by the SEC and other regulators over time. But it's also like, that'
we have the on off ramps with circle and Coinbase to go in and out of dollars and USDC at basically one to one at any time.
Yeah, initial reaction was, you know, it feels like there's definitely a lot of, I mean, there's always been a lot of regulatory uncertainty in this space, specifically around lending and lending products. So, you know, on one hand surprising to see, you know, the kind of aggressive tone that the SEC took, but also like not that surprising to see, you know, a large, you know, regulatory body like the SEC kind of come and say, Hey, we're looking at this. And we're taking a pretty aggressive stanc