While I would agree that the government is strongly incentivized to try and regulate crypto I think its hard to argue that stablecoins aren't ticking time bombs

While I would agree that the government is strongly incentivized to try and regulate crypto I think its hard to argue that stablecoins aren't ticking time bombs. Most of them clearly don't have the assests to back up their market caps and with 138 billion USD in market cap [1] they would certainly cause a crash of at least cryptocurrency if they became worthless. [1] https://www.coingecko.com/en/categories/stablecoins https://www.coingecko.com/en/categories/stablecoins