Stablecoin issuers are now among the top 20 holders of US Treasury bills.
Stablecoin issuers are now among the top 20 holders of US Treasury bills.
Live data sourced from Morpho Blue API.
Plain-English read on what kind of book this curator runs and how it's currently positioned. Synthesized from their tracked vault footprint — no off-chain reputation claims.
** AlphaPing runs a concentrated stablecoin-heavy book (62% USDC) across 12 vaults with 61% lending exposure on Ethereum (93% of TVL). Risk and complexity scores are moderate (31 and 33) with a blended APY of 7.31%, anchored by three USDC vaults generating 6.87–8.71% yields.
** Core structural risk is opacity: $4.0M and $2.9M top vaults route directly to Morpho Blue markets marked unmapped, obscuring actual collateral composition and liquidation waterfall. The remaining book ($5.8M) spans savETH/ETH+ collateral and legacy USDC pools, with no visible diversification away from Ethereum smart contract risk.