The CONCEPT of stablecoin is fraudulent/fantasy because you can't take a stablecoin and look at it and see exactly where the fiat that is backing it is. You can't prove that it's fiat backing exists in any way. The only reason it exists is because there are a ton of fanboys for anything crypto and they don't have a clue how it works. TONS of people were freaking out about tether very shortly after it became well known.