Can @conksresearch , @biancoresearch , @JeffSnider_EDU actually analyze those claims by @RanaForoohar ? 1. Flight to safety means more stablecoin holding not less (cf G-MMF behavior) 2. Can T-Bills deviate a lot and for long from fed funds (they never did)?

@conksresearch @biancoresearch @JeffSnider_EDU @RanaForoohar The article subtitle is "Bipartisan backing of stablecoins will hurt America’s economy and its politics" I'm still waiting for an example of a G-MMF that broke the buck or became illiquid. And GENIUS stablecoin are nothing else than that.

I agree lending again volatile assets like BTC could lead to issue. But comparing a regulated stablecoin with BTC is comparing a MMF and Gamestop equity. A new MMF regulation can make financial markets more safe, yet does nothing to protect irrational GME gamblers from being hurt by antiquated financial markets. And no one cares, because it would be stupid ti link those two parts.