The four largest US airlines leveraged loyalty programs for substantial profits, with Delta earning $7 billion from selling loyalty points, contributing to its $6 billion operating profit. Despite a massive $187 billion in credit card interchange fees in the US, rewards programs remain popular and could protect card companies from stablecoin competition. Notably, US banks plan to introduce stablecoins with integrated rewards programs. Meanwhile, Binance is promoting the USD1 stablecoin, with significant trading activity driven by incentivized trading rewards on PancakeSwap. Large fees associated with Digital Asset Treasury (DAT) companies raise concerns, as many incur costly management fees. The Merger Arbitrage strategy offers insights into market dynamics, focusing on the acquisition of Stargate by LayerZero, emphasizing the need for a deep understanding of the respective protocols. The article advocates for rational investment strategies and the educational prospects of merger arbitrage in crypto markets.

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