PANews June 2 report, according to CryptoSlate, Nobel Prize-winning economist Paul Krugman compared stablecoin issuers to the 'pre-war banks' of 19th century America in a blog post, calling them 'technologically enhanced wildcat banks' and criticized stablecoins as a 'new form of shadow banking' primarily used to evade regulation. He pointed out that stablecoins are not suitable for everyday payments, and their only advantage is anonymity, which is precisely the root of their facilitation of crime. He warned that a large-scale redemption could trigger a sell-off of U.S. Treasury bonds and impact the financial system. Nic Carter, co-founder of CoinMetrics, countered his view as 'seriously misleading,' stating that hundreds of millions of users have demonstrated the practical value of stablecoins.
