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A comment on The trillion-dollar lawsuit against Tether. Parent comment

Re:The trillion-dollar lawsuit against Tether by seibelj on Monday November 04, 2019 @03:19PM (#21446016)
USDC from ycombinator-funded Coinbase is doing fine https://www.coinbase.com/usdc

But the same old tropes about crypto always get the upvotes.

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Re:The trillion-dollar lawsuit against Tether by papln on Monday November 04, 2019 @03:49PM (#21446350)
How is USDC operation financed? Is it a marketing expense of Coinbase? Is "Convert USDC at a ratio of US$1.00 for 1 USDC with no fees" expected to change to a fee in the future?
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Re:The trillion-dollar lawsuit against Tether by nostrademons on Monday November 04, 2019 @07:29PM (#21448359)
Loss leader to get you to trade more. The existence of USDC makes it easier to move in and out of crypto positions, and to send crypto to other exchanges without taking on exchange-rate risks. Coinbase's business model is to take a fee whenever you transact. The more transactions you make, the more money they make.

It's similar to Google's "make the web faster" efforts (Chrome, V8, AMP, mod_pagespeed, hosting JQuery & other AJAX libs, developer education). If the web is faster, you visit more pages. If you visit more pages, you search more. If you search more, you click on more ads, which makes Google more money.

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