Tether is looking to raise up to $20 billion through private financing, aiming to reach a valuation of $500 billion in its latest funding round. Don't underestimate the will of stablecoin leaders, what they want to promote, just as bn can advance Aster, Aster to bn, Plasma to Tether, how grand is they to build a stablecoin pattern and scenario? Over the years, except for the IEO bond, there are very few Tether-related projects, and the results of Cricle's listing have more or less stimulated them. BSC is not BN but is developed by the community, OKB is not the OKX platform currency, and Plsama has nothing to do with Tether. Another topic comes to mind. What are the core competencies of exchanges? Technology? Products? Serve? Revenue? Liquidity? Listing volume? License plate? Insight? Luck? There may be all the above reasons, but the scale of capital can solve most of the above problems, which actually goes around the question of whether there are chickens or eggs first, and it may be better to turn it into the problem of having some chickens and some eggs. When the capital is ten times that of the opponent, does the opponent still have a way to compete? Technical products can be invited to the best, and many things are willing to pay for better solutions, and all kinds of bad things are cost problems. Binance will compete with Tether one day, just like OpenAI wants to build chips to compete with Nvidia, and it can also be understood that Brother Sun is guarding USDT and making money. Minting rights, even castrated versions of minting rights are crazy things, looking at the growth of the volume of stablecoins, looking at the growth of the market value of the leading US stocks, and looking at the growth of the assets of the world's richest man, we will become poor if we don't make money.