This will be a defining moment for stablecoins, and will test whether Tether is truly backed by liquid assets to the $80bn equivalent. The UST collapse will ac

This will be a defining moment for stablecoins, and will test whether Tether is truly backed by liquid assets to the $80bn equivalent. The UST collapse will accellerate regulations, with Ms Yellen already commenting on stablecoins. More regulations will force USDT to show its hand with its assets, likely proving that it's technically insolvent. That will collapse it. What about USDC? As long as they act ethically, they need 1 'physical' dollar to mint 1 USDC. If USDT is backed by mostly air, then the USDT > USDC migration can't happen without actual reserves changing hands. This likely means a crypto collapse, as more people will learn that value < money.