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Trump‘s ‘Board of Peace‘ Considers Stablecoin for Gaza Efforts: FT (cointelegraph.com)
submitted 8 months ago by to c/nottheonion@lemmy.world
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A Financial Times report suggested that the 'Board of Peace' established by Donald Trump is considering stablecoins as part of its efforts claiming to help rebuild Gaza. According to a Monday Financial Times report, the board is in the preliminary stages of discussing whether a stablecoin could be used to help rebuild Gaza’s economy. A person familiar with the project reportedly said the stablecoin would not be a meme coin or a replacement for fiat currency, but rather “a means to allow Gazans to transact digitally.”

Original article (paywalled)

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[+] -4 points 8 months ago (1 child)
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  • [–] 9 points 8 months ago

    Look at the Tether stablecoin, Tether is solely responsible for minting new tokens and has full control over the tokens, being able to blacklist or destroy wallets/tokens (since it controls the "smart contract" involved). And they have done so because of sanctions and law enforcement request in the past, with afaik well over 1 billion USDT frozen.

    I see no reason why the trump team wouldn't just go for the same mechanism for their stablecoin.

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