Grifters keep on grifting, or the insane “comeback” of Bolt 🤯🤯; FinTech giant Adyen expands into India 💸🇮🇳; Mercado Libre unveils its own stablecoin - Meli Dollar 😳🪙
Grifters keep on grifting, or the insane “comeback” of Bolt 🤯🤯; FinTech giant Adyen expands into India 💸🇮🇳; Mercado Libre unveils its own stablecoin - Meli Dollar 😳🪙
Every time I read about another USD linked stable coin, it always comes back to transparent auditing- has the "guatantor" actually got real USD backing the stable coin?
Cos if not, the "guarantee" isn't worth the "digital " paper its written on
Can't remember the name but the last collapse of a "stable coin" was because it WASN'T backed by real dollars but an algorithm
And "surprise surprise" when the algorithm read the market wrong, lo and behold, the coins backing suddenly went south. As did the coin and the coin holders assets
These are all valid points but in the case of Mercado Libre, the risk is minimal. Remember that $MELI is a publicly-traded company, so no such thing would be signed off by the Board unless things are being done the right way. Also, they are working with a number of solid partners that have a good track record and reputation.
Great read as always! Thank you.
thank you for being a loyal reader - pumped to have you here.
Every time I read about another USD linked stable coin, it always comes back to transparent auditing- has the "guatantor" actually got real USD backing the stable coin?
Cos if not, the "guarantee" isn't worth the "digital " paper its written on
Can't remember the name but the last collapse of a "stable coin" was because it WASN'T backed by real dollars but an algorithm
And "surprise surprise" when the algorithm read the market wrong, lo and behold, the coins backing suddenly went south. As did the coin and the coin holders assets
These are all valid points but in the case of Mercado Libre, the risk is minimal. Remember that $MELI is a publicly-traded company, so no such thing would be signed off by the Board unless things are being done the right way. Also, they are working with a number of solid partners that have a good track record and reputation.