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When stable coins go wobbly
As an esteemed blockchain developer said to me this morning, "you can only have a bank run if you're operating as a bank".
The blockchain industry, particularly DeFi, basically abandoned its own tech (after finding out that their bold ambitions were impossible to do in a cryptographically pure way) to chase the $$$ and the average investor did not understand the implications enough to steer clear.
That said, Tether might be ok. They're probably in better shape that a lot of retail banks.
Stonehedge
@greentricky
When stable coins go wobbly
https://twitter.com/Tree_of_Alpha/status/1538556348174110723