Stablecoins: Savior or Serpent?

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Ah, yes, the pronouncements of Devin McGranahan, CEO of Western Union. A man, no doubt, burdened by the weight of… well, moving money. He declares, with a solemnity that would befit a confession, that these “stablecoins” – these digital phantoms – are not a threat, but an opportunity. An opportunity! 🙄 As if the universe itself conspires to mock the established order. Is it not always thus? The old guard, initially aghast at the new, then cautiously embracing it, pretending it was their idea all along? A familiar tragedy, unfolding before our very eyes.

He speaks of “faster and cheaper” transactions. Faster, perhaps, than a snail mail letter from Siberia, but cheaper… one suspects the cost is merely shifted, not truly diminished. A new layer of abstraction, a new set of hands reaching for their share. 💸 It benefits us all, he assures us, with the same sincerity one might expect from a man selling indulgences. And his pronouncements to Bloomberg… how predictable! A stage perfectly crafted for such announcements.

He acknowledges, with a touch of patronizing grace, that these coins cannot be “directly spent” – as if anyone believed they could simply stroll into a bakery and purchase a loaf of bread with a digital ghost! No, they must be converted to “fiat currency,” that tired, old relic we cling to so desperately, particularly in regions where liquidity is… lacking. Which is to say, where people are poor. A delicate phrasing, isn’t it? 😇

And then, the GENIUS Act. A name so brimming with hubris it practically begs to be undone. A regulatory framework! As if laws can truly contain the capricious spirit of innovation! It “paves the way,” he says, for integration. Integration, naturally, with Western Union’s services. One can almost smell the partnerships brewing, the quiet negotiations, the inevitable compromise of ideals for the sake of… profit. The eternal dance. It is enough to make one despair! But, perhaps, a little amusement as well. 🤔 The world, after all, is a grand, absurd farce.

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2025-07-24 11:57