According to Deep Tide TechFlow, Nobel laureate Paul Krugman stated in his blog that stablecoins have no significant useful functions and merely facilitate criminal activities, akin to 'pre-war banks' of the 19th century. He warned that stablecoins could evade regulation, posing a risk of financial crises.
Nic Carter, co-founder of Coin Metrics, rebutted that Krugman's view is 'extremely incorrect', citing that over 100 million stablecoin users globally demonstrate their practical utility. Paul Fusaro, president of Bitwise Asset Management, also supports Carter's perspective.