5/16/2022 0 Comments
According to Celsius Network CEO Alex Mashinsky, crypto market participants should be aware of stablecoins, which are crypto assets designed to have a somewhat stable value by being tied to a commodity or currency such as the US dollar. We have some of his most recent interview quotes.
“It’s very important for people to understand that not everybody who calls themselves a stablecoin is a stablecoin. Just because you have some kind of an algorithm and you attach the word stablecoin to it does not mean you are a stablecoin, so we need to really separate.
Even if the value of the stablecoins mentioned varies in some crypto exchanges, owners can still redeem the full value of their crypto holdings through the stablecoin issuer, according to Mashinsky.
“You can redeem it at any time, and people have to understand that just because something trades at $0.98, even if USDC trades on some exchange at $0.98, that means nothing, but people don’t understand that.
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