If stable coin outcompetes the normal coins then the state trying to gain back some of its power
I have a new essay up at Reason on why Trump is not the Bitcoin president
He’s the stablecoin president
Bitcoin separates money from state, but stablecoins expand and strengthen state power
https://reason.com/2025/09/12/donald-trump-is-not-the-bitcoin-president/

If stable coin outcompetes the normal coins then the state trying to gain back some of its power
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