re: Why bitcoin is worse than a Madoff-style Ponzi scheme

quote:

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It's the opposite? Cryptocurrency is to strengthen the USD?

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stablecoins are backed by dollars (generally speaking..)

so if cyrpto becomes the dominant medium of exchange globally, that means dollars become more prominent

for example: someone in turkey would rather hold a USDC stable coin over the turkish lira, if given the option between the two. everyone wants dollars.

so giving access to dollars on stablecoin rails is a huge deal for those in countries with weaker currencies.

this is why the US is focusing so strongly on regulation of stablecoins.