It’s Time To Call Algorithmic Stablecoins Something Else, Says FTX Crypto Exchange CEO Sam Bankman-Fried

It’s Time To Call Algorithmic Stablecoins Something Else, Says FTX Crypto Exchange CEO Sam Bankman-Fried

Despite the Recent Crypto Meltdown, the First Bitcoin-Based Stablecoin Is in the Works by Tor Constantino | Published on May 14, 2022 Lightning Labs CEO says its new Taro upgrade will enable enhanced smart contracts and stablecoins on Bitcoin's (BTC) blockchain. Key points - The recent double-digit drop spanning the cryptocurrency sector is a stark reminder of how volatile this asset class can be. - Massive price swings in the past resulted in the creation of stablecoins, which are pegged to another asset such as gold or the U.S. dollar to greatly reduce erratic moves. - Most stablecoins run on either the Ethereum or Binance blockchains -- none on Bitcoin's -- but Lightning Network's Taro protocol will likely enable the first BTC-based stablecoin. The broad crypto sell-off that's occurred over …
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