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by everfree 1601 days ago
The article is about stablecoin minting and redemption, not purchases or sales, so I'm not sure where this is coming from.

The article also doesn't have anything to do with buying things or the prices of things rising.

Stablecoins are very simple to measure inflows and outflows on, as explained in the article. When someone exchanges a real dollar for a USDC token and the dollar goes into the stablecoin issuer's bank account, that's an inflow. When someone exchanges a USDC token back for a real dollar out of the stablecoin issuer's bank account, that's an outflow.

> except when new assets are being created, via a new offering

That's exactly what's happening here. Each stablecoin mint is a new offering.
2 comments
dustintrex 1601 days ago
> When someone exchanges a real dollar for a USDC token

You're making the very large assumption here that people are exchanging real dollars for stablecoins, which is almost certainly not the case. Tether, in particular, seems to printing their stablecoins out of what appears to be thin air, or at best in exchange for sketchy IOUs.

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sumedh 1601 days ago
> Tether, in particular, seems to printing their stablecoins out of what appears to be thin air,

Everyone keeps saying they are printing but no one has the proof. Even the New York AG investigated Tether and just gave them a slap on the wrist

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dustintrex 1601 days ago
Do you really believe that a 10-person company run by a convicted fraudster (Devasini) is managing $78 billion dollars in assets, making them bigger than Vanguard or Schwab, despite the financial world not being able to find any evidence of what they're actually holding?

https://www.bloomberg.com/opinion/articles/2021-10-07/matt-l...

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sumedh 1599 days ago
It does not matter what I belive, the NY AG looked at that gave a slap on the wrist and I dont think any other US govt agency is looking at them so what does that tell you?
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everfree 1601 days ago
USDC is a coin issued by the US-based company Circle Ltd. It's not related to Tether.
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nightski 1601 days ago
Really that's a play on words though. You might as well say "How much money flows into Tether's bank account". Because it's not going into crypto and just disappearing as the title implies. Someone is going to get to spend those dollars.
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