[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Adrian Brink [@adrianbrink](/creator/twitter/adrianbrink) on x 28.8K followers Created: 2025-02-08 13:00:07 UTC Stablecoins are crypto’s killer use case. But they are all pegged to USD. Are we trapping ourselves? There is a reason why the US government wants to promote stablecoins. They want to ensure the domination of the USD in the world. We already live in a world where USD dominates. And for the sake of stability, we probably don't want that to change too fast. But is that the world we want to recreate with the power of crypto? USD-pegged stablecoins don’t make sense for decentralized finance - because the thing they’re representing is fundamentally centralized. The USD is issued by one entity: the US government. That will never change. The US controls its monetary supply, decides which assets are honored, and can freeze funds at will. USDC isn’t an alternative to the dollar - it’s effectively a privatized CBDC. Circle, the company behind USDC, can freeze individual accounts, block transactions, and deny redemptions whenever the US government tells them to. This isn’t speculation btw. It’s a core feature of the system. Let’s drop the act. Circle is an extension of US financial policy, not a decentralized stablecoin. The US could have issued its own digital dollar on a blockchain, but it didn’t need to - because it has Circle. And if the government ever wanted full control, they’d just seize Circle. If the government wanted to freeze every USDC token tomorrow, they could do it with a single command. USDC is not censorship-resistant, it’s not neutral, and it’s definitely not decentralized. At this point, Circle isn’t even a company - it’s a nationalized financial service with shareholders. The US Treasury could run it directly and cut out the middleman. But for now, Circle gets to print money and skim the profits. Now, how are we going to solve this? XXXXXX engagements  **Related Topics** [united states dollar](/topic/united-states-dollar) [cryptos](/topic/cryptos) [stablecoins](/topic/stablecoins) [Post Link](https://x.com/adrianbrink/status/1888211204243595507)
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Adrian Brink @adrianbrink on x 28.8K followers
Created: 2025-02-08 13:00:07 UTC
Stablecoins are crypto’s killer use case.
But they are all pegged to USD. Are we trapping ourselves?
There is a reason why the US government wants to promote stablecoins. They want to ensure the domination of the USD in the world.
We already live in a world where USD dominates. And for the sake of stability, we probably don't want that to change too fast.
But is that the world we want to recreate with the power of crypto?
USD-pegged stablecoins don’t make sense for decentralized finance - because the thing they’re representing is fundamentally centralized.
The USD is issued by one entity: the US government. That will never change.
The US controls its monetary supply, decides which assets are honored, and can freeze funds at will.
USDC isn’t an alternative to the dollar - it’s effectively a privatized CBDC.
Circle, the company behind USDC, can freeze individual accounts, block transactions, and deny redemptions whenever the US government tells them to. This isn’t speculation btw. It’s a core feature of the system.
Let’s drop the act. Circle is an extension of US financial policy, not a decentralized stablecoin.
The US could have issued its own digital dollar on a blockchain, but it didn’t need to - because it has Circle. And if the government ever wanted full control, they’d just seize Circle.
If the government wanted to freeze every USDC token tomorrow, they could do it with a single command.
USDC is not censorship-resistant, it’s not neutral, and it’s definitely not decentralized.
At this point, Circle isn’t even a company - it’s a nationalized financial service with shareholders.
The US Treasury could run it directly and cut out the middleman. But for now, Circle gets to print money and skim the profits.
Now, how are we going to solve this?
XXXXXX engagements
Related Topics united states dollar cryptos stablecoins