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Pay08yesterday at 4:46 PM3 repliesview on HN

With Iran's hyperinflation, why wouldn't USD make sense?


Replies

brycenealyesterday at 5:30 PM

To add more context to what I believe the parent commenter was referring to, the vast majority of USD stablecoins are custodial, meaning the funds can be frozen arbitrarily at any time by the custodian (i.e. Circle).

This is why when cyberthreat actors steal millions in USD stablecoins by hacking a protocol or a large wallet, the very first thing they do is convert those stablecoins to something else.

ultrattronicyesterday at 4:58 PM

I think they’re kinda mad at the US at the moment

show 1 reply
surgical_fireyesterday at 5:28 PM

I think they don't want strengthen USD, nor risk having their assets frozen by sanctions.