this post was submitted on 12 Aug 2025
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Explain Like I'm Five
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So their utility is that they are a form of USD that can easily interact with cryto markets.
Except that you have some anonymous strangers who pinky swear that they have said real-wolrd-asset backing.
There've been more than enough instances where said backing just didn't exist.
isn't that how economic crises start or something.......?
Basically, yeah