The FT takes on the stablecoin boom https://archive.is/xaaJM

I thought this graf on risk was apt. I can doubt Tether Truthers while still finding them too risky to do business with

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Kinda similar to how we trust banks when we deposit funds into them.

I’m just parking my money in a branded vault. The only reason I put my money at Wells Fargo or Chase is cause they are reputable brands.

Not the same 1:1, but I trust the Circle brand to ensure USDC is safe. My trust for USDT is lower as a result of its brand being tarnished for reasons beyond my understanding

For what it’s worth, banks also have to comply with significant regulation. A badly branded bank still must follow these rules. 

Impressed the Wells Fargo brand has managed to not be tarnished for you, too 😂 that bank is a highly publicized mess

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For what it’s worth, banks also have to comply with significant regulation. A badly branded bank still must follow these rules. 

Impressed the Wells Fargo brand has managed to not be tarnished for you, too 😂 that bank is a highly publicized mess https://www.investopedia.com/wells-fargo-timeline-7498799

Lmao I made my account when I was 14 and one of my best friends worked there for a while, so I’m loyal 

I’d imagine that Stablecoin issuers aren’t held to the same level of federal regulation yet — but they hopefully have to follow certain practices to build trust and adoption in the industry 

 ie proof of reserves, etc