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by mptest
1041 days ago
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for a company like this, the real reason is because you can give users 0% return while on the backend actually making return with their money, same as any "bank" that holds usd. for people like do kwon and sbf, and many others I probably don't know about, what you said |
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Banks are competing for deposits; this rate pressure is already hitting earnings. And they take maturity-transformation risk. PayPal has found ersatz depositors without depositor protections who will accept zero yield in a high-yield environment. They could literally just roll into Treasury bills and overnight funding and ink a decent profit.