Discover and read the best of Twitter Threads about #stablecoins

Most recents (5)

1/ The Senate Banking Comm staff reached out last week regarding @Facebook @Libra pursuant to my @ForbesCrypto article. During a conf call they indicated interest in receiving formal testimony from me. Here it is + summary follows ๐Ÿ‘‡:โ€ฆ @DoWithCare
2/ Big takeaway--politicians that weaponize the US banking system (blocking access to disfavored industries/countries) are modern-day Herbert Hoovers bc these barriers block both unlawful & LAWFUL commerce, & these barriers caused the invention of #stablecoins in the first place.
3/ (OK, I didn't actually call them modern-day Herbert Hoovers the testimony, but I digress...) If Congress isn't happy about @facebook @Libra, it can immediately make #stablecoins irrelevant by letting #banks bank the #crypto industry (& I give v specific recommendations here:
Read 19 tweets
1/16) Congratulations @bitfinex !

THREAD: @Tether_to 's risk is completely misunderstood and underestimated. Here is a scenario which is not unlikely to happen, we hope it won't.
2/16) There is a 5 step playbook that has played out many times before that could see Tether potentially lose everything. The biggest risk with Tether was NEVER that they didnโ€™t have enough funds. The risk was regulatory.
3/16) ๐—ฆ๐˜๐—ฒ๐—ฝ 1 - ๐—š๐—ฎ๐˜๐—ต๐—ฒ๐—ฟ ๐—œ๐—ป๐—ณ๐—ผ๐—ฟ๐—บ๐—ฎ๐˜๐—ถ๐—ผ๐—ป

Currently, the NYAG is pursuing an investigation of fraud. But this may just be the tip of the iceberg. If US authorities have decided to target Tether, this could just be an exploratory probe.
Read 16 tweets
0/ Thread time. Continue reading if you want to know what's been going on in the #crypto/#blockchain ecosystem over the past ~24 hours!
1/ ๐Ÿค In a push to bolster speed and throughput, stalwart of the #crypto exchange space - @Bitstamp - chose @Cinnober to henceforth be the provider of its trading system (i.e., replacing Bitstamp's in-house developed matching engine).
2/ โ“‚๏ธ The team at @MakerDAO [ $MKR ] updated the community on its upgrade path vis-ร -vis Multi-Collateral $Dai (MCD).

Ever-meticulous, Maker is running initiatives to ensure that potential bugs/vulnerabilities are identified and fixed prior to release.โ€ฆ
Read 24 tweets
Since Stablecoins have been coming out left and right I wanted to dive into them and add my own analysis.

I draw on info from @stablecoinindex, and a recently released report from @blockchain

Here is the thread!๐Ÿ‘‡๐Ÿผ
Fundementally, i think centralized fiat backed stable coins are a temporary solution within the crypto space. Because of that they don't interest me quite as much as their decentralized counterparts.
Thats not to say that they don't have valuable use cases, i just think that decentralized stablecoins will take over that use case in the medium to long term.

Some crypto use cases
-Fiat onramp
-Store of Value inbetween trades
Read 14 tweets
0/ Having trouble staying on top of all the latest in the world of #crypto and #blockchain? I've got you covered. Well, at least for the last 24 hours or so ๐Ÿ’โ€โ™‚๏ธ

Let's get this thread going shall we.
1/ ๐Ÿ“ @DPRating published the September edition of its #GitHub Audit, rating more than 200 #crypto and #blockchain projects.

Teams that ranked disproportionately well included @Raiden_Network [ $RDN ], @NulsService [ $NULS ], @ParticlProject [ $PART ], and @POANetwork [ $POA ].
2/ โ™ป๏ธ @PowerLedger_io [ $POWR ] introduced Asset Germination Events (AGEs), furthering the utility of its native #crypto token.

AGEs will allow people to invest in and co-own energy assets. More details to come via a Friday AMA.โ€ฆ
Read 24 tweets

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