The U.S government wants Tether and other fraudulent stablecoins to grow so big that, once the big crash hits and the Ponzi collapses, they will use it as a scapegoat to blame the entire crisis on, just like they did with Bernie Madoff’s Ponzi, where thousands of people reported it to the SEC, but it was intentionally ignored, and then later claimed it helped cause the 2008 crash, despite it being a result of the big banks getting too greedy. After the big financial crisis hits, I guarantee politicians will argue that they need to create their own central bank stable-coins because banks are so “trustworthy,” and they’ll use Tether as an example of why it cannot be in the hands of the people. This is a game of control, and the maxis, by defending fraudulent and centralized stablecoins and helping them grow, are unintentionally assisting central banks in pulling off one of the greatest seizures of power in human history: the full and total control of the monetary supply.

The growth of stablecoins hasn't "helped" central banks; it has terrified them. They are only rushing to create CBDCs because they are losing the race. Private stablecoins have set a standard for efficiency that the government can't match. By the time they launch a slow, surveilled CBDC, the world will already be accustomed to the speed and global nature of crypto-native assets.

@rishukumar4436 Definitely an AI response, but to reply, banks, with millions of employees, and essentially unlimited capital, aren’t competing with sketchy fraudulent stable coins like Tether, who’s code can be replicated in under 10 minutes, and they have a team of like 4 Ponzi scammers.