Comment Re:"Stable" - NOT (Score 1) 57
OK. They *were* encoded into the ledger - and now show as burned. Those 300T were absolutely NOT tied to any assets. Say someone - oh how about George Soros - buys 100 million in this stablecoin. What's to prevent the company that owns the ledger from being pressured or *ordered* by, oh, say, the Government, to "burn" George's coins. Only his. Poof! 100M gone.
Until they are regulated as strictly as a bank - or more strictly - and have legal options to push back against something like the above - I wouldn't trust them with a single dollar. Ever.