The Problem With Stablecoins

The finance community has previously treated money and finance as a math equation or math game. I think we have the same narrative with stablecoins where we're creating this false narrative in our minds because at first blush it makes sense right? The degree of systemic risk in this system is already so incredibly high you think about the fact that Zappo custody is 10% or more of the world's Bitcoin. No one has the appetite to monitor this shit either yep well it's unnecessary part of crypto.