Kansas City Fed estimate of what stablecoins are actually used for:
1) 29.3% transfers (treasury moves, on/off-ramps)
2) 26.4% exchanges
3) 21.2% sitting idle
4) 17.2% DeFi
5) 5.1% infrastructure, mostly stuck in bridges
6) 0.7% payments (a lot less than I expected)
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Median age at IPO went from 4 years in 1999 to 13.5 in 2024. Private markets AUM doubled in the last decade.
