The reason this is not true is because the best stablecoins, like American-run USDC, have excellent transparency and are backed 1:1 in cash and short-duration t

The reason this is not true is because the best stablecoins, like American-run USDC, have excellent transparency and are backed 1:1 in cash and short-duration treasuries, with no fractional reserve system. https://www.circle.com/en/transparency https://www.circle.com/en/transparency