The same Fed rate hike can help stablecoins and hurt Bitcoin borrowers

- The Fed raised rates, and the crypto ecosystem is finally admitting money has more than one price. While moonboys panic because Bitcoin’s yieldless existence looks bad next to 4% SOFR, stablecoin issuers are quietly printing cash on your idle dollars. Circle’s reserve income hit 95% of revenue; they’re getting paid while you’re paying interest to borrow BTC. It’s a classic meat wallet tax: you lose either way. Borrowers face higher bills, issuers get richer. No scams here, just brutal math. If you aren’t earning on your reserves, you’re funding someone else’s margin call. Stop chasing hype and check your financing terms before the spread eats your stack.