Stablecoins are money funds with a different rulebook
A dollar token is a promise to redeem at par, backed by a portfolio. Every risk that structure carries has a long and well-documented history.
Section
Crypto
What is left when the marginal buyer, the leverage and the story all thin out.
The bid that left crypto
Every crypto cycle ends the same way: not with a verdict on the technology, but with the quiet disappearance of the marginal buyer.