Tether itself is scandalous. It's hard to imagine, and if tether is the most used one, that other ones are going to be allowed to happen. stable coins are offered also as a safer alternative because they are pegked to railwold acid. But if the largest one is just a fraudulent scheme, then why should you bother with any of them? And also, why should you bothers with like the underlying risky acid, which is crypto currency and of itself? If this is all a bubble, how do you stop it? Right now there's a lot of enthusiasm and exuberance whereat we're close to the top of the market.
Edward Ongweso Jr. and Jacob Silverman on cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape. The first in a two-episode series on crypto.
Read Dan's new essay on border control politics: nplusonemag.com/online-only/online-only/border-crises/
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