The largest stablecoin USDT co-founder Reeve Collins believes that the stablecoin industry is about to enter the "2.0 era." He pointed out that Tether successfully created a dollar token that can circulate on the blockchain, allowing users to enjoy global, real-time, low-cost dollar transfers. However, this stablecoin 1.0 model also has structural issues: users give dollars to the issuer, who invests in assets like U.S. Treasury bonds to earn profits, but these earnings are not distributed to the users.

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