Weekly Roundup 08/11/23 (PayPal's stablecoin, the Fed's oversight program, Ryan Salame emerges) (EP.443)
On The Brink with Castle Island
The Cost of Doing Business With a Stablecoin
The PayPal stablecoin comes with the standard freeze functions that major fiat back stablecoins come with. Awesome makes this point a lot, which is you can't just not include that because if the regulator feels or court feels that the stableCoin is in the wrong hands, if you lack the freezing function, the court will just immobilize the reserves. So at this point, it's kind of the cost of doing business is having the freezing function built in.
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