As the Federal Reserve gradually lowers interest rates, stablecoins relying on earning interest from U.S. Treasury bonds are now facing the question of how to balance income and expenses moving forward. Spark has already taken the lead by transferring $100 million worth of U.S. Treasury bonds from its treasury to Superstate, a compliant and regulated arbitrage fund that generates returns through the price differences between spot and futures in crypto. According to its disclosed information, the current 30-day yield is 9.26%. However, this raises another question: is it safe enough? Out of the $2.2 billion currently held on-chain by Justin Sun, more than half—$1.3 billion—is stored in Spark, followed by Aave and Mprhop.