WHY WE'LL SEE 1,000 STABLECOINS (AND WHY MOST WILL FAIL)

Summary from the TLDR Crypto newsletter

Stablecoin issuance is easy, but adoption depends on leverage (custody, UI control, and liquidity). A wave of platforms, from wallets to exchanges, is launching their own stablecoins to capture yield from user balances, yet most will struggle to circulate beyond their own ecosystems. In open environments like Hyperliquid or Solana, liquidity favors incumbents like USDC and USDT. In closed systems like PayPal or Binance, custody gives issuers the leverage to impose adoption. The stablecoin future may be abundant, but fragmented.