Crypto melting down will only have a positive impact on the economy, not a negative one. Crypto is a value store. While things were bad in th economy investors could move their money into crypto and ride it out. When crypto falls, that money is going to end up back in the position to influence the real economy.

Only use I ever had for USDC was as a buffer on Coinbase: a liquid middle ground between various crypto-currencies and fiat. I never had any use for it otherwise. Once Coinbase cancelled all their US debit cards, that use was no longer valid to me.

That said, the idea of any large organization relying on a stockpile of stable-coins seems every bit as insane to me as this author lays out. Nevermind the risks to economies at large, I straight-up fail to see the incentive for anyone to go along with this scheme.

The font used in the article is sooo bad.