econ

How Crypto Could Trigger the Next Financial Crisis - David Frum

Scoresby

Money without permission? The internet needs it.  

Everyone’s talking stablecoins like they’re shady. “No KYC? Must be dirty money.” 🙄  
But here’s the flip: this is exactly why the next big wave of builders should be watching.  

The Spark: Stablecoins let anyone jump into the USD system fast, global, low-friction.  
No banker squinting at your passport. No forms asking why you bought a burrito.. 

Here’s the opportunity no one’s talking about:  

1️⃣ Unbanked = untapped market   
There are billions who can’t open a U.S. bank account. Stablecoins flip the door open. Builders here could grab massive market share before regulators wake up.  

2️⃣ Proof-of-reserves = new trust moat   
Tether’s run in 2022? Survived $10B withdrawals in two weeks. Imagine being the company that nails instant-proof-of-reserves so users feel safer than with a traditional bank. That's growth + PR gold.  

3️⃣ Regulation-ready = sticky advantage  
Act like you’re in 2027 already. Insurance on deposits. Monthly + event-based disclosures. Partner with Chainlink-style auditing. When the GENIUS Act drops, you’re not scrambling you’re already the safe bet.
