Unemployed Solana Dumb Traders price

Thought of an idea Before the LUNA crash, its market cap was 22 billion, and the UST issuance was 11 billion. Now Circle has a market cap of 40 billion, and the USDC issuance is over 60 billion. If it continues to rise, it will approach the LUNA-UST ratio. In this case, if Circle adopts a strategy similar to MicroStrategy, by issuing new shares/convertible bonds to continue raising funds and converting them into USDC for self-holding, it can benefit from both the dollar interest rates and the on-chain interest rates. They could even bundle this portion of assets into ABS to further leverage. In a very short time, the USDC issuance could surpass USDT to become the largest stablecoin. It's a great regret that the two crypto geniuses, DK and SBF, are still sitting in prison during this cycle.

in singapore last year i gave a talk called "cryptodollarization". the idea is dollarization via stablecoins. now with the GENIUS act about to pass and bessent's comments about stables reaching $3.7T (!!) (13% of M3), i believe stablecoins are being unleashed as an economic weapon to dollarize the rest of the world and help reset the US fiscal position. cryptodollarization has happened already, arguably in venezuela, argentina (partial), and nigeria (partial). i believe it's much more aggressive than conventional dollarization, which is often limited by availability of physical banknotes. I believe that in a decade there will be many fewer sovereign currencies and most weak nations will be dollarized – not through USG intervention but by a spontaneous "bottom up" process (this happened in Ecuador in 99/20 as described by larry white). in effect consumers engage in currency substitution and force the government's hand. stablecoins eliminate the power of borders in currency choice and allow network effects to actually take hold. this is why we see the dollar representing >99% of stablecoins but only 40-60% of international reserves and financial flows. stablecoins make currency substitution must faster and more aggressive, and they are also ~impossible to stop. in almost all cases where nation states have attempted to prohibit flows out of local FX into USD stablecoins, they have eventually relented. in my talk I built a simple model to try and guess where these spontaneous crypto-dollarizations might occur (see the last couple slides). i wanted to revisit this talk because these predictions have become much closer to reality in the last 12 months. the government is saying the quiet part out loud: stablecoins are an economic weapon to passively dollarize the entire planet. slides: video: