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