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100% agree--let's bring audits with oversight to stablecoins, so we can protect consumers and give clarity to the industry.

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Squawk Box

@SquawkCNBC

May 17

Official

"It's crazy right now that you can actually develop a stablecoin and have it not be backed by anything," says @RepJoshG on #stablecoins. "Part of the concern is that it's unclear what they're backed by. They're going to actually have to show what those resources are."

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6:04 PM · May 17, 2022Twitter Web App

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Usdc

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and

lmao

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Fed

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Good move, sir.

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and

Yeah. That move was clearly good for him... And now calling for regulation was probably his plan all along? 🤔 Makes you think, doesn't it?

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and

That's fine. Were backed and we have been the only stablecoin to actually prove to be resistant to a 7B instant redemption and potential attacks. We are already providing details to regulators on our activities.

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How about they audit your liquidations

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SAMS A SUIT 😭