News for hackers. Stuff that matters.

A comment on SBF Is Headed to Prison but FTX Will Haunt the Crypto Community for Years. Parent comment

Re:SBF Is Headed to Prison but FTX Will Haunt the Crypto Com... by kodapoda on Sunday November 05, 2023 @01:11PM (#38153790)
The only future for that I can think of is state or large institution owned stablecoins. But that is so far removed from absolutely everything crypto and web3 promised, I wouldn't even put that in the same category. No public ledger, not decentralized, not an alternative to banking, etc. I still don't understand the difference between having $10 in PayPal vs having 10$ in PYUSD.
[ Parent | on HN ]
Re:SBF Is Headed to Prison but FTX Will Haunt the Crypto Com... by justapassenger on Sunday November 05, 2023 @06:30PM (#38156875)
It’s much easier for the owner of PYUSD to inflate their assets and be insolvent without customers knowing about it. That’s it.
[ Parent | on HN ]