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⚠️ Nobel Prize winner: stablecoins are a "trap", with risks far outweighing the benefits.

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A Nobel Prize winner recently criticized stablecoins, stating that their name is misleading – claiming to be stable, but the actual risks are concerning.

Main criticism points:

  • Tether reserves fraud, Circle exposed to Silicon Valley Bank risk → Even “100% guaranteed” cannot prevent black swans.
  • Redemption rules are vague, and stablecoin platforms have become “shadow banks” without regulatory constraints.
  • Although the US GENIUS Act has provided legal recognition, regulation ≠ safety.

Core Viewpoint: Stablecoins should not be dominated by private platforms; future payment systems should be based on public infrastructure rather than speculative tools.

This argument is somewhat interesting—surface compliance, hidden risks. What do you think, can we still trust stablecoins now?

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