I understand and would ideally treat them at par with cash. But the crypto world is highly volatile. Its also pretty small and news spreads rapidly. There is a

I understand and would ideally treat them at par with cash. But the crypto world is highly volatile. Its also pretty small and news spreads rapidly. There is an inherent lack of faith in underlying systems as well, which is why bank runs and catastrophic collapses are so common. T-bills, as secure as they might be, can’t be immediately redeemed into cash. If you’re a stablecoin issuer and you stop redemption for a day or two until you can refill your coffers, it can easily start off rumors that you’re insolvent. Depending on prevailing market sentiment, it can set off a panic bank run. If the stablecoin is widely used, this can set off a collapse in other associated pairs Until this space matures enough, T bills present an avoidable risk factor