The hottest Stablecoins Substack posts right now

And their main takeaways
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Top Finance Topics

@adlrocha - Money and collateral in an AI-first society

@adlrocha Weekly Newsletter • 129 implied HN points • 08 Mar 26
đź’° Finance Stablecoins
  1. Compute, energy, and AI tokens will become the new scarce commodities and collateral, so access to PFlops, MWh, and tokenised intelligence will be treated like money and hedged accordingly.
  2. Two parallel economies are likely to emerge: a fast, tokenised, agent-to-agent market running on stablecoins and tokenised assets, and a slower human-facing economy that uses fiat and stablecoins for everyday needs.
  3. The ultimate economic advantage will be inference efficiency — getting the most useful intelligence per unit of energy — so smaller, more efficient models and edge deployments will capture the most value.

Kontigo: Y Combinator's Venezuelan Sanctions Evasion Startup

Fintech Business Weekly • 557 implied HN points • 11 Jan 26
đź”® Crypto Stablecoins
  1. Kontigo, a Y Combinator–backed startup, has been linked to efforts to help Venezuela’s Maduro regime evade sanctions.
  2. JPMorgan served as a fiat on‑ramp for users of that crypto company, showing how major banks can connect traditional finance to sanctioned actors.
  3. The episode highlights broader risks in the startup and stablecoin ecosystem, revealing compliance gaps and venture capital ties that can enable financial crime.

How To Launder A Billion Dollars Using Tether

Fintech Business Weekly • 252 implied HN points • 25 Jan 26
đź”® Crypto Stablecoins
  1. A Miami-based executive is accused of using Tether and U.S. shell companies to launder over a billion dollars by converting stablecoins to dollars and moving the proceeds across borders.
  2. Regulators and law enforcement are tightening up: crypto firms face fines and audits, payment processors are cutting risky partners, and some fintechs are seeking bank charters to change their funding and compliance profiles.
  3. Weaknesses in AML and onboarding—like easy account opening without clear nationality checks and misleading MSB registrations—make the financial system vulnerable and are driving calls for stronger monitoring and enforcement.

Who profits from a world without cash?

Altered States of Monetary Consciousness • 297 implied HN points • 20 Jan 26
đź”® Crypto Stablecoins
  1. Cash protects privacy, resilience in crises, and everyday budgeting for low-income and informal economies; losing cash hands more power to banks and platforms and makes payments easier to surveil or censor.
  2. Central bank digital currencies (CBDCs) and dollar-backed stablecoins concentrate monetary control and can be used as geopolitical tools, while Bitcoin and other decentralised options offer a different, less controllable model.
  3. Digital payments are consolidating into a few powerful firms, threatening small-scale peer-to-peer trade and individual autonomy, which is driving interest in preserving or reviving analog money as a form of resistance.

"No KYC" Crypto Cards Tap Corporate Issuing Loopholes

Fintech Business Weekly • 104 implied HN points • 08 Feb 26
đź”® Crypto Stablecoins
  1. Some crypto "no KYC" card services exploit a corporate card issuing loophole to let users fund and spend with crypto without proper identity checks, and some even market this to sanctioned countries like Iran.
  2. Layered fintech partnerships, weak beneficial-ownership rules, and gaps in onboarding mean banks and regulators often can't see the true users or owners of cards, making it easy for bad actors to hide.
  3. Enforcement and fixes have been spotty so these schemes keep reappearing across many BINs and issuers. Separately, Varo raised $123.9 million despite still being unprofitable, showing mixed outcomes in the fintech market.
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When ChatGPT Started Sending Me SubStack Subscribers

Olshansky's Newsletter • 91 implied HN points • 29 Jan 26
đź”® Crypto Stablecoins
  1. Micro-tipping lets people send tiny, instant payments (even cents) to creators on platforms like Substack by adding an EVM address or domain to a profile.
  2. These tiny payments create a new economic model and incentives for original human content, enabling micro-attribution, pay-to-play features, leaderboards, agent-facing data signals, and one-off paywalled unlocks.
  3. The system is built for easy adoption with fiat onramps, email-linked embedded wallets, a browser extension, and an upcoming agent SDK so creators and tippers don’t need deep crypto know-how.

Oh, Lucky Man!

Daniel Pinchbeck’s Newsletter • 10 implied HN points • 02 Mar 26
đź’° Finance Stablecoins
  1. Howard Lutnick runs Cantor Fitzgerald, which now serves as the main custodian and broker linking Tether-style stablecoins to US Treasury debt, and stands to earn large ongoing fees as that bridge. This gives his firm a central role in moving crypto liquidity into government securities.
  2. Lutnick has a history of aggressive, self‑interested business behavior and close ties to controversial figures like Brock Pierce, Steve Bannon, and Jeffrey Epstein, and he’s been accused of lying and positioning his firm to profit from government policies. These patterns suggest his influence mixes private gain with public policy.
  3. Forcing stablecoins to hold Treasuries (via laws like the GENIUS Act) funnels crypto money into government debt, can reduce credit available to ordinary businesses, act like a backdoor CBDC, and concentrate financial control among billionaires and their firms. That structural shift could reshape who controls liquidity and credit in the economy.

Issue #149: Stripe Eyes PayPal, Block Cuts 4,000 Jobs for AI, And Coinbase Opens Stock Trading

Fintech Radar • 10 implied HN points • 01 Mar 26
đź’° Finance Stablecoins
  1. Stripe is exploring buying all or parts of PayPal — likely eyeing Braintree or Venmo — which would merge merchant infrastructure, consumer wallets, and crypto rails into a single payments powerhouse.
  2. Coinbase opened stock and ETF trading to all US users and teamed up with Yahoo Finance, letting people trade thousands of equities (and fund trades with USDC) so stocks and crypto live on one platform.
  3. Block cut about 4,000 jobs, betting that new AI capabilities can replace large swaths of work and turning the company into a much smaller, more automated organization — a move that could signal similar shifts across fintech.

Ethena: Fundamentally Flawed?

DeFi Education • 819 implied HN points • 21 Feb 24
đź”® Crypto Stablecoins
  1. Ethena aims to provide attractive yields through a unique trading strategy that combines staking ETH and selling futures contracts. This could help users earn money while managing risk.
  2. There are concerns about Ethena's design, including the fact that it relies on staked ETH, which carries more risks. If things go wrong, users might face significant losses.
  3. While Ethena might seem like a good option now, it's important for investors to be cautious and understand the risks involved, as past attempts in this area have often failed.

Ethena Drama

DeFi Education • 559 implied HN points • 05 Apr 24
đź”® Crypto Stablecoins
  1. Ethena’s new stablecoin called sUSDe focuses on giving investors returns from off-chain trading, similar to how hedge funds operate.
  2. Ethena recently launched its token ENA, which has reached a total value of $15 billion when fully diluted.
  3. An airdrop of 5% from Ethena's total supply is worth about $750 million and makes up a significant part of its offering.

The Hijacking Of Bitcoin: Epstein’s Hidden Network

QTR’s Fringe Finance • 35 implied HN points • 06 Feb 26
đź”® Crypto Stablecoins
  1. Bitcoin’s original peer-to-peer cash design was sidelined in favor of “digital gold” when developers kept block sizes small, making on-chain payments slow and pushing users toward centralized Lightning hubs.
  2. Jeffrey Epstein’s money flowed through MIT and investments like Blockstream to fund core developers, while intermediaries like Brock Pierce and Tether helped inflate Bitcoin’s price — research shows Tether minting played a major role in the 2017 bull run.
  3. Wall Street players and insiders (e.g., Cantor Fitzgerald, Howard Lutnick) used their influence and new laws (GENIUS, CLARITY) to lock in control over stablecoins and programmable money, risking surveillance and loss of financial freedom and prompting calls to back privacy-focused alternatives.

Why Micro-Tipping Is the Fuel for Original Content on the Open Web

Olshansky's Newsletter • 68 implied HN points • 05 Jan 26
đź”® Crypto Stablecoins
  1. Micro-tipping creates lightweight, optional payments that align incentives to fund original human-created content and help prevent AI agents from cannibalizing creators' revenue.
  2. For humans, tiny tips feel low-stakes and expressive and can act as lottery-like incentives or access mechanisms; for AI agents, programmatic micro-payments let models buy fresh, diverse ground-truth data without complex contracts.
  3. Micro-tipping is an interoperable, platform-agnostic middle ground between free content and paywalls, using stablecoin rails so creators can be supported across the open web without platform lock-in.

Long Take: How Wise disrupted $150T of Cross-Border Payments and earns $1B in revenue

The Fintech Blueprint • 511 implied HN points • 18 Oct 23
đź’° Finance Stablecoins
  1. Wise disrupted the costly traditional cross-border payment system by using a peer-to-peer platform and offering transparent, low fees.
  2. The company earned $1.2B in revenue in 2021 with a significant portion coming from its margin on FX transfers.
  3. Wise's growth and profitability are driven by its innovative approach to simplifying and optimizing cross-border transactions.

DeFi: Frax Finance completes V3 rollout with on-chain bonds

The Fintech Blueprint • 275 implied HN points • 25 Jan 24
đź’° Finance Stablecoins
  1. Frax Finance introduces on-chain bonds called FXBs, resembling zero-coupon bonds and converting to FRAX stablecoin upon maturity.
  2. The emergence of interest-bearing stablecoin projects like sFRAX and USDe is likely to shift focus from non-interest paying stablecoins like USDT.
  3. There has been a significant growth in Total Value Locked (TVL) in tokenized securities with U.S. Treasury exposure, reaching around $790MM.

Stablecoins: The Next Financial Platform

The Generalist • 2922 implied HN points • 16 Jul 23
đź’° Finance Stablecoins
  1. Stablecoins solve real problems like moving value across borders quickly and cheaply.
  2. Stablecoins have signs of product-market fit with $125 billion in circulation and 1 million daily active wallets.
  3. Stablecoins are viewed as a financial infrastructure layer, serving as a platform for open, cheap, and programmable global payments system.

Tether And When Denial Becomes A Dialect

QTR’s Fringe Finance • 63 implied HN points • 28 Nov 25
đź”® Crypto Stablecoins
  1. Companies should always provide a full audit if requested. If they refuse, it's likely because they have something to hide.
  2. Tether's reserves are not as stable as they claim, with high-risk assets like Bitcoin included. If those assets drop in value, Tether may struggle to maintain its worth.
  3. It's important to be skeptical and demand transparency in financial matters. Trusting companies without verification can lead to big losses.

The Red Flags Multiply For Tether

QTR’s Fringe Finance • 34 implied HN points • 15 Dec 25
đź”® Crypto Stablecoins
  1. The company is planning a huge stock sale that could imply a $500 billion valuation, making it one of the most valuable private firms.
  2. Management intervened to stop insiders selling shares at a steep discount that would have implied about a $280 billion valuation, which suggests liquidity issues and that market prices may differ from headline valuations.
  3. Refusing a full independent audit while actively managing share sales and public narrative is a major transparency red flag and increases skepticism about the company’s true financial health.

Introduction to crvUSD

DeFi Education • 459 implied HN points • 19 Jul 23
đź”® Crypto Stablecoins
  1. Curve Finance is a platform that helps users swap cryptocurrencies, especially stablecoins, and has launched a new stablecoin called crvUSD. This stablecoin is in beta testing and has gained over $100 million in total value locked.
  2. crvUSD introduces a unique 'soft liquidation' process that gradually adjusts collateral value instead of sudden sell-offs, which can protect users from significant losses when market conditions change.
  3. The crvUSD stablecoin will aim to maintain its value peg through smart contracts called PegKeepers and a dynamic borrowing rate system, but comes with inherent risks due to its newness and experimental nature.

Wang Yongli: The rapid development of USD-backed stablecoins offers a profound warning

Pekingnology • 184 implied HN points • 07 Jul 25
đź”® Crypto Stablecoins
  1. USD-backed stablecoins are growing fast and giving the U.S. an edge in global finance. This increase is affecting the demand for U.S. Treasury bonds and the overall influence of the dollar.
  2. Stablecoins are different from traditional currencies as they operate more like digital tokens linked to fiat money. They allow for constant online trading, making them a key part of the future economy.
  3. Regulations are becoming important for stablecoins to avoid problems like overissuing and to ensure they have enough reserves. This could lead to stablecoins being used more for payments rather than investments.

MakerDAO Update

DeFi Education • 439 implied HN points • 07 Jul 23
đź”® Crypto Stablecoins
  1. MakerDAO is undergoing a major governance change to improve its system. This will help make it more user-friendly and efficient.
  2. They are planning to integrate AI and invest more in real-world assets. This could open up new opportunities for growth.
  3. MakerDAO aims to be a reliable decentralized stablecoin provider with competitive interest rates. This is important for attracting more users and trust.

New Stablecoin Challenger - GHO

DeFi Education • 399 implied HN points • 12 Jul 23
đź”® Crypto Stablecoins
  1. GHO is a new stablecoin by Aave, aimed at competing with existing stablecoins like DAI. It will charge a lower borrowing fee of 1.5% compared to MakerDAO's 3.5%.
  2. Aave needs to create demand for GHO to be successful. Without incentives or market makers, people might not want to hold or use GHO.
  3. The security of GHO has issues, as some audits pointed out potential problems in the code. This raises concerns about how reliable it will be for users.

Circle S-1 Breakdown

Tanay’s Newsletter • 170 implied HN points • 10 Jun 25
đź”® Crypto Stablecoins
  1. Stablecoins, like USDC and USDT, are now important for payments, moving large amounts of money much like traditional banking systems. USDC alone has handled over $25 trillion since it started.
  2. Circle, which runs USDC, makes most of its money by investing the dollars that back USDC in U.S. Treasuries. This means if interest rates drop a lot, their profits could take a big hit.
  3. Coinbase plays a huge role in Circle's success by helping to distribute USDC. They share the profits from USDC, so a lot of Circle's earnings are paid to Coinbase as part of their agreement.

Gresham’s Law: Bad Money Drives Out Good

DeFi Education • 1159 implied HN points • 15 May 22
đź”® Crypto Stablecoins
  1. Gresham's Law shows that bad money tends to push out good money from the market. When people have a choice, they'll use the less valuable currency to keep the better one for themselves.
  2. In the context of decentralized finance (DeFi), imbalances in pools can affect liquidity and price stability. For instance, if one stablecoin in a pool loses its value, it can lead to issues for the whole pool.
  3. Using AMMs (Automated Market Makers) like Curve for swapping stablecoins is crucial for providing on-chain liquidity. Efficient liquidity helps maintain fair prices and trading in the crypto market.

How stablecoins could fail

Alex's Personal Blog • 131 implied HN points • 24 Jun 25
đź”® Crypto Stablecoins
  1. Stablecoins have some big problems that could make them fail as a trustworthy form of money. They don't always act like regular money should, which can confuse users.
  2. One major issue is that different stablecoins can trade at different values, just like different brands of the same product. This makes it hard for people to think of them as interchangeable.
  3. Despite their problems, stablecoins are still popular in places where local money is unstable. People keep using them, but we need to be careful about how they are designed and regulated.

Decoding Curve's $70M Hack

Daily Digest • 176 implied HN points • 31 Jul 23
đź”® Crypto Stablecoins
  1. DeFi protocols like Curve Finance were exploited in a $70 million hack due to reentrancy attacks.
  2. Vyper is a secure programming language for Ethereum, used for writing smart contracts.
  3. Stable Pools in DeFi facilitate efficient trading between stable assets with minimal price slippage.

How to Earn Higher Interest Than Banks with Fantom DeFi - Hint Banks Are Zeros.

DeFi Education • 1019 implied HN points • 12 Jan 22
đź”® Crypto Stablecoins
  1. Using Fantom DeFi, you can earn higher interest on your savings compared to traditional banks. Depositing stablecoins, like USDC, can give you returns up to 13% a year.
  2. Fantom’s blockchain allows for very low transaction fees and fast transactions, making it user-friendly. It's compatible with popular wallets like Metamask and platforms like Curve and Yearn.
  3. While the yield farming options are good now, they may not last forever. The DeFi space is competitive, and it’s beneficial to start early to make the most of these high yields.

Stablecoins: Reinventing Dollars

DeFi Education • 919 implied HN points • 10 Dec 21
đź”® Crypto Stablecoins
  1. Stablecoins are a type of cryptocurrency that is usually backed by another asset, like the US dollar. They help make trading easier and allow people to transfer money quickly and cheaply.
  2. There are different types of stablecoins, like centralized ones (USDT and USDC) that are backed by fiat currency, and decentralized ones (DAI) that use overcollateralization to maintain their value. Each type has its pros and cons.
  3. Stablecoins play an important role in the crypto world and traditional finance. There is lots of interest in creating better decentralized stablecoins, as they could improve the overall system and reduce reliance on centralized finance.

Liquity: Don't Chicken Out of Stables

DeFi Education • 479 implied HN points • 27 Sep 22
đź”® Crypto Stablecoins
  1. Liquity is a unique stablecoin protocol that operates without governance, making it fully decentralized. This means no single entity can control it, which adds to its security.
  2. The only accepted collateral for Liquity is Ethereum (ETH), which is a distinctive feature compared to other stablecoins that might accept various assets.
  3. Despite recent challenges in the stablecoin market, it's important to stay informed and explore options like Liquity for stablecoin needs. They still hold potential value in the DeFi space.

Protocol Update - Frax Finance

DeFi Education • 459 implied HN points • 14 Oct 22
đź”® Crypto Stablecoins
  1. Frax Finance created a stablecoin called FRAX that is backed by a mix of USDC and other assets.
  2. They have made important updates to their products, which could appeal to users interested in decentralized finance.
  3. The updates are part of an effort to keep users informed about new developments in the Frax ecosystem.

Frog Nation Series Finale: How it All Connects

DeFi Education • 819 implied HN points • 14 Jan 22
đź”® Crypto Stablecoins
  1. Frog Nation connects different finance applications to help users manage their assets better. It's like having a network of tools to boost savings and investments.
  2. Spell/MIM is a system where you can put in your earnings to borrow a stable currency, making it easier to access funds when you need them.
  3. Popsicle Finance acts like a smart assistant for your investments by helping you get better returns and manage yields efficiently.

PYUSD

Confronting the Future • 137 implied HN points • 07 Aug 23
đź’° Finance Stablecoins
  1. Stablecoins like PYUSD are becoming inevitable in the global financial landscape.
  2. Public blockchains erode monopolies and offer new options for value exchange.
  3. Introduction of PYUSD by PayPal will lead to legislative action, regulatory scrutiny, and talent demand in the stablecoin space.

Systemic Incentives

Confronting the Future • 137 implied HN points • 30 Aug 23
đź’° Finance Stablecoins
  1. When you deposit money into your checking account, the bank can use it however they want and only pay you a tiny amount, like 0.42% on average.
  2. Using stablecoins backed by short-dated T-bills can eliminate subsidizing risky borrowers, black box bank solvency issues, and slow payment transfers.
  3. Stablecoins may revolutionize the financial system by ensuring users do not subsidize risky borrowers, avoiding complex bank solvency risks, and eliminating legacy payment delays.

Stablecoin Saturation

Reverie by Daniel Cawrey • 66 implied HN points • 02 Jul 25
đź”® Crypto Stablecoins
  1. Stablecoins like USDC and USDT are very popular, with market values reaching around $250 billion. This growth shows how important they are for both crypto businesses and regular users.
  2. Many people are starting to notice stablecoin apps that make financial transactions easier and cheaper. Companies are building new applications using existing stablecoins to help users move money without banks.
  3. As stablecoins become more common, they will help bring more users into the blockchain world. These users might not even realize they are using crypto, since everything will function like regular dollars.

Curve Overview - (Part 1 of 2)

DeFi Education • 899 implied HN points • 04 Aug 21
đź”® Crypto Stablecoins
  1. Curve is a decentralized exchange focused on stablecoins. This means users can trade without middlemen, making it easier to swap currencies.
  2. The project is closely connected with Yearn Finance, which was discussed in previous posts. Understanding both can help with grasping DeFi concepts.
  3. This article is part of a series, suggesting that there will be more detailed information on Curve in upcoming parts. It's good to follow along for a complete picture.