Minsheng Securities: Stablecoins cannot save the US dollar from dire straits in the short term

according to Financial News, Minsheng Securities released a research report stating that at least in the short term, stablecoins cannot save the credit of the US dollar from crisis. The problem with the US dollar lies in understanding the counterparties, without considering the preferences of the US domestic and private sectors. Just the official reserves overseas may be enough to make the US dollar nervous. The difference between stablecoins and gold is that, first, its supply may also be out of control, lacking an objective restraint mechanism; second, it is not globally recognized as a reliable reserve asset.