Perhaps another stupid/newb question but: A CBDC basically demolishes the use case of stablecoins, right? I understand that current Trump policy has buoyed people's hopes of throwing CBDCs into the ash heap of history, but highly contentious and partisan-aligned policies are not very, uh, stable nowadays. I can easily see this seesawing between administrations. And in the event of a financial crisis? Forget about it. I think the opening for monetary innovation in that event would put CBDCs squarely back on the table.

nah imo, big reason stablecoins have gained adoption is bc they are global and permissionless, whereas CBDC would be domestic and permissioned

CBDC might influence whether americans hold money in stablecoins but it would not effect something like international remittances, lending, payments outside of the US, etc.