dogecoin 
$0.134729 Mishaboar published an open letter stating that stablecoins such as USDT, USDC and PYUSD should be avoided. Mishaboar stated that buying these assets is “inherently risky” and could harm their owners.
Risks Involved in Stablecoins
Mishaboar stated that stablecoins carry risks for various reasons. First, he said, there is always the possibility that the reserves backed by these assets could collapse. This is considered one of the most controversial topics in the industry.
Additionally, Mishaboar noted that these stablecoins are highly centralized. Drawing particular attention to USDT and USDC, the two largest stablecoins in the industry, the expert added that PYUSD is also gaining popularity. He claimed that the institutions behind entities such as Tether, Circle and PayPal could freeze users’ assets upon request:
Dear #Dogecoin community, as I have stated many times: Owning “stable” coins like USDT, USDC or PYUSD is inherently risky. These assets are also risky assets, not only in the event of the collapse of the institution that supports them…
The Role of Regulations
It is stated that some of the concerns expressed by Dogecoin advocates can be largely resolved through regulations. In particular, Tether CEO Paolo Ardoino called for stablecoin regulation in the United States, because he stated that there is no reliable framework yet.
Centralization risks can also be addressed if the right rules are applied. Regions such as the European Union have introduced regulations such as CryptoAsset Markets (MiCA) to guide the issuance of stablecoins. Additionally, the collapse of Terra-linked algorithmic stablecoin USTC caused $40 billion to disappear from the market, triggering regulators to take action.
Mishaboar, Bitcoin 
$67,091Dogecoin, Litecoin 
$69 He argued that it is safer to own fiat currencies with real value, as well as cryptocurrencies such as Monero and Monero. According to him, these assets carry less risk overall.
Experts say such problems can be overcome if the industry works together.
Finally, according to Mishaboar’s recommendations, it may be beneficial for investors to focus on safer alternatives.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
