New York, September 29, 2021 – As of September 2021, US dollar-tied stablecoins have jumped from $30 billion in circulation in January to about $125 billion. In their brief history, stablecoin issuers have proven that they don’t always have the cash reserves they claim. For example, Tether recently settled an investigation by the New York AG in March this year that alleged that it had inflated what it held in reserve.
If stablecoins aren’t regulated soon, we could see a 2008 style run on the issuers of such coins. And as always the case, retail investors will be left holding the bag.
Culvem 