RE: Businesses will issue custom stablecoins: what this means for the banks
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If there are no fees attached, exactly how is it that the Trump family has made fifteen million off fees? Don't confuse the fees with their billions in holdings, they are two separate things. Who is paying these fees? Another question in the back of my mind, was if this was from mining, (the fees), how many miners in so short of a time have made fifteen million off mining?
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I don't think there's any such thing as miners revenue when it comes to Trump’s family stablecoin so the revenue you seem to be talking about is definitely from something else.
Given that the Trump family isn't exactly transparent with its world liberty project, there's no way to know.
Certainly stablecoins can be designed to have fees paid to the issuer with every transaction on-chain but I don't think that would be a good idea, so the primarily means of generating income would be through investment of reserves in treasuries.