Stablecoins are on pace to become the new money market funds - Crypto L1s will live and die by demand for these coins
Investors will buy and hold them to earn a yield from the debt backing them
That "yield" is derived from fiat debt issuance and this system will grow even more rapidly than fiat debt
It will be called the next innovation of crypto
A crisis will emerge with stablecoins losing their peg - effectively "breaking the buck"
Nothing about this system will enable freedom
ericyakes / Eric
npub1m7…g0l4p
2023-08-14 18:05:36
Author Public Key
npub1m7fjc8z7t00jzrgkfm4kzvnv4chf04rq9ykpke0rpe0ke2kud24qmg0l4pPublished at
2023-08-14 18:05:36Event JSON
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"content": "Stablecoins are on pace to become the new money market funds - Crypto L1s will live and die by demand for these coins\n\nInvestors will buy and hold them to earn a yield from the debt backing them\n\nThat \"yield\" is derived from fiat debt issuance and this system will grow even more rapidly than fiat debt\n\nIt will be called the next innovation of crypto\n\nA crisis will emerge with stablecoins losing their peg - effectively \"breaking the buck\"\n\nNothing about this system will enable freedom",
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}