Stablecoins: Why This Hot Cryptocurrency Faces Challenges | WSJ

Bitcoin’s volatility has limited its adoption for payments, so entrepreneurs created stablecoins: cryptocurrencies pegged to assets such as the U.S. dollar. But the recent settlement of a probe into the most popular stablecoin, tether, shows the need for transparency in the growing industry. Photo illustration: Sharon Shi/WSJ

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About the Author: Pamela Ellingsworth

19 Comments

  1. Hmmm…. is Tether the next domino to fall? Will it be good for BTC? I guess it depends who you ask these days.

  2. No one wants to use USDC anymore after that rumor that USDC's market cap is artificially inflated. And their recent issues are even adding up lol

  3. Circle's reputation isn't in the best of shape right now… They should take an audit in order to recover the trust of their users, which has also recently declined…

  4. Given what happened with Tornado Cash and the part USDC played in it, I don't think USDC is a good stablecoin to use right now. I wouldn't want to use or hold a stablecoin that might one day simply blacklist my hard-earned money.

  5. Unfortunately, USDC is infamous for minting coins out of thin air, which is why it is losing institutional support and is not recognized as a reliable stablecoin. That is why people don't actually believe it.

  6. USDT has been in the market long enough to prove itself. It has been tested by time already. Thats why its the best stablecoin in the market right now.

  7. Tether is just the reliable option here. I don't think USDC will last very long with their declining market cap.

  8. The US government can't even make profit in the US mail business. The federal reserve brought us 30 trillion in debt. So we would have to leave it up to the banks….. So they basically just want to use a bunch of energy to solve a math problem then do the exact same transfer they do now just so they can reset the debt…..which is bankruptcy …just like how the reworded recession so we aren't in one….what a JOKE

  9. They should mention Basel III, allowing banks to the lend out everything down to a little 8% of their equity. THAT is how banks end up burning consumers‘ money

  10. They should mention Basel III, allowing banks to the lend out everything down to a little 8% of their equity. THAT is how banks end up burning consumers‘ money

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