USDT RESERVE YIELD JUST HIT $19.6B SINCE MAY 2021. USDC? $7.4B SINCE JULY 2022. SAME GAME. TREASURIES AND CASH EQUIVALENTS. TETHER KEPT MORE OF IT AND RAN A BIGGER BOOK. DEFILLAMA NUMBERS. NOT HOLDER YIELD. ISSUER YIELD. SIZE PLUS TIME PLUS KEEPING THE INTEREST. THAT’S THE GAP.