STABLECOINS AS EXIT TECH, BUT AN EXIT TO ETH, NOT USD?

Summary from the TLDR Crypto newsletter

EigenLayer founder Sreeram Kannan expands on Aaron Wright's viral thread, agreeing that stablecoins enable global, permissionless custody, but warns they pose a “counter-sovereignty risk” for nation-states. He predicts USD stablecoins will face regulatory choke points abroad, leading to local stablecoin dominance in domestic markets. As users recognize the geopolitical exposure of dollar-backed stables, Kannan argues they'll increasingly exit not to USDC or USDT, but to censorship-resistant assets like ETH and BTC.