Expect the stablecoin issuer to dominate headlines over the coming half-year. Word is they're liquidating their entire gold reserves, BTC holdings, and non-Treasury assets—clearing the path for regulatory compliance ahead of a rumored public offering. Sure, interest rate cuts might squeeze profitability margins, but the legitimacy play could reshape how institutional money views dollar-backed tokens. The strategic pivot from crypto-heavy reserves to pure Treasuries signals they're betting big on mainstream acceptance over yield chasing. Whether the market buys this transformation remains the billion-dollar question.