There’s a flight to safety. Bitcoin. A lot of stables looking problematic. They can be fucked with. Bitcoin can’t.
Yea the gov is definitely clamping down hard on stable coins right now, scary to see how they want to rip apart the space.
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Tether will likely benefit from this. I was very surprised to see them go after USDc. I always assumed it was the government coin.
100% I was also surprised but going after USDC will also threaten some ETH projects that use their stable for lending models. Two birds with one stone
