The Empire of Stablecoins: A Paradox of Liquidity and Freedom
In the original vision of the crypto world, Bitcoin symbolizes decentralized freedom — a monetary sovereignty free from the influence of any nation, bank, or institution. Ironically, as this financial revolution slowly unfolds, a new force is quietly reshaping this once-free land:
That is — the rise of the Empire of Stablecoins.
Stablecoins, especially compliant digital dollars like USDC, are rapidly permeating the entire crypto ecosystem with the help of giants like Coinbase, Circle, and Visa, driven by a trifecta of policy, technology, and capital. On the surface, it addresses the volatility problem and enables the possibility of large-scale applications; but in essence, it also brings about an unprecedented structural shift: • Liquidity pools in blockchain are increasingly concentrated in stablecoin-dominated DeFi; • Users' wallets, once borderless and anonymous, are gradually evolving into semi-closed systems that require KYC and off-chain settlements; • Native assets like BTC and ETH are marginalized as stores of value, losing their dominance in market pricing; • Retail investors are being 'platformed,' with funds becoming API parameters between USDC and Shopify.
This is not a victory of freedom, but a reconstruction of power.
Stablecoins are weaving a new network of financial colonialism in the name of 'compliance' and 'efficiency.' The blockchain, from an ideal of decentralization, has transformed into a 'pipeline of infrastructure' for the digital age — and the valves of that pipeline are no longer in the hands of the people.
We should not fully reject this process, for the world needs bridges. But we must be vigilant: once the bridge is blocked, it becomes a cage.
In this new Empire of Stablecoins, the only thing that has not yet been co-opted is Bitcoin. It remains permissionless, non-freezable, and borderless — it still belongs to you, to the very essence of free will.
As some have said:
'“Stablecoins are how they get you back. Bitcoin is how you stay free.” #GENIUS稳定币法案
#京东币 🧵BREAKING: JD.com just announced its own “stablecoin strategy.” Spoiler: it’s more like a digital store credit in fancy shoes than a real stablecoin.
While USDT & USDC flow freely across DeFi like lifeblood, JD’s token might only work… if you’re buying a rice cooker on their app. 🍚💳
Nice try, though. Hong Kong’s stablecoin sandbox is open — just don’t forget it’s still in the sandbox.
🇮🇱⚔️🇮🇷 #以色列伊朗冲突 Middle East Tensions Rock Markets As Israel strikes Iran and conflict escalates, capital is fleeing to gold and oil—while Bitcoin faces heavy liquidation. Volatility is not weakness. It’s consolidation before the next leg up. 📈 $BTC is not a hedge. It’s the future.
#Metaplanet增持比特币 Metaplanet has become the world's ninth largest publicly traded company holding Bitcoin, marking the acceleration of Asian capital entering the core territory of Bitcoin asset allocation. Surpassing Coinbase is not only a breakthrough in data but also a manifestation of market confidence. Compared to the self-produced and retained Bitcoin by mining company Hut 8, Metaplanet's public purchases carry more financial symbolic significance, indicating that Bitcoin is gradually being seen as a new standard for corporate reserve assets. This also suggests that the driving force behind the next round of the crypto bull market may no longer come solely from the West, but rather shift towards Eastern financial new poles like Tokyo. $BTC