[teractiveodular]

The degree of ideological doublethink here is bizarre. As far as I can tell:

- Crypto is good

- Fiat currency is bad

- Except the US dollar, which is good

- So US-dollar backed stablecoins are also good

- But we can't have the Fed operate a stablecoin, that would be bad

[wmf]

Crypto doesn't have one ideology (and Trump has no ideology). The "number go up" faction isn't opposed to fiat. Many libertarians think that only the government can harm them so they only want to limit government power; they're fine with corporate power. Put that together and you get the current situation.