WHY EVERYONE'S WRONG ABOUT STABLECOINS

Summary from the TLDR Crypto newsletter

Relying solely on T-Bill interest is unsustainable - issuers will need complementary business models to survive. Pure-play stablecoin issuers like Circle and Tether face challenges from traditional institutions, which can issue deposit tokens and leverage existing infrastructure more effectively. Multiple interoperable stablecoins may coexist in the future - success will be determined by complementary business models and control over banking infrastructure rather than network effects alone.