Ah, dear readers, our esteemed Nobel laureate, Jean Tirole, has deigned to inform us that these so-called “safe” stablecoins might not be as secure as a snowball in a hurricane. How thrilling! 🎩💸
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According to a McKinsey report, the stablecoin market cap recently hit an all-time high of $280 billion. Tether (USDT) leads the charge, as always, with 60% of the market cap. “A true titan of the token world.” 🐉
The stablecoin market is predicted to surpass $400 billion by 2025 and hit $2 trillion by 2028. “A future so bright, you’ll need sunglasses… and a life insurance policy.” 🔭
Tirole’s latest rant: “I am very, very worried about the supervision of stablecoins. Imagine a run on assets! The chaos! The drama!” 🎭
Though they’re now regarded as “perfectly safe deposits,” Tirole believes stablecoins could trigger losses and a government-led bailout. “A tale as old as time, but with more blockchain.” 🕵️♂️
He warned that stablecoin issuers might be tempted to invest in riskier assets for higher returns. “A recipe for disaster, but who’s counting?” 🧪
“The price of the stablecoins might [also] go down,” he said, “as they lose their peg to a sovereign currency. A tragic romance, if you will.” 💔
However, Tirole suggests that global supervisors could mitigate risks if they regulate digital tokens properly. “A noble goal, though likely as achievable as teaching a cat to fetch.” 🐱
“Some key members of the [U.S.] administration . . . have a personal financial interest in [cryptocurrency]. And beyond the personal interest, there’s ideology,” said Tirole, possibly referring to the Trump family’s various crypto-related projects. “A true blend of ambition and… well, let’s call it ‘entrepreneurial spirit.’ 🚀
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2025-09-01 13:02