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700.983 - 721.076 Chamath Palihapitiya

So theoretically, a billion dollars of stable coins should have a billion dollars of cash in some short-term fungible security. What's incredible is at the scale in which these stable coins operate, that has turned out to be an enormous business. Why? When you give them a billion dollars and get a billion dollars of stable coins in return, they just go and put it into the bank.