From Breakingviews - All’s fair in love and stablecoins
reported it falsified documents to gain access to bank accounts. Circle Chief Executive Jeremy Allaire, in contrast, does regular rounds in Washington and has argued for regulation. An announcement from Circle following SVB’s collapse was clear, transparent, and level-headed.
Tether lost its peg last year, but it recovered shortly thereafter. And the company said it doesn't rely on American banks, including SVB. Still, in a market predicated on speculation, it’s probably reasonable for investors to be spooked. What’s less reasonable? Their decision to move money from one asset built on the backbone of a speculative business to another.
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