"Buy my stablecoin, it's 100% backed by actual dollars and therefore cannot crash"
"OK, can we see behind the curtain?"
"Absolutely not"
"Can I cash them in with you to get the dollars back out?"
"Hell no"
That's why it's relevant. Because this is not a bank or bank-like situation, and comparisons to fratctional reserve are spurious. They're sold specifically on not being fractional.
"OK, can we see behind the curtain?"
"Absolutely not"
"Can I cash them in with you to get the dollars back out?"
"Hell no"
That's why it's relevant. Because this is not a bank or bank-like situation, and comparisons to fratctional reserve are spurious. They're sold specifically on not being fractional.