Odaily Planet Daily reported that Michael Egorov, the founder of the decentralized lending platform Curve Finance, believes that the potential risks of over-collateralized stablecoins may not be the reserve-related risks that investors commonly notice, but rather the geopolitical risks brought about by government regulation. In an interview, Egorov stated that the underlying assets supporting collateralized stablecoins, including cash deposits from financial institutions and government securities such as U.S. Treasury bonds, are easily affected by asset freezes and seizures. He pointed out that maximum decentralization can be achieved through algorithmic stablecoins to address these potential sanctions, as these stablecoins do not rely on physical cash deposits or short-term cash equivalents: 'If you have something that is completely decentralized, then it is just software that runs autonomously on the chain, so you can't really do anything to it, and in principle, it is still completely traceable.' 'For (the U.S. dollar), the keys never belong to you. So, this is a problem,' Egorov also asserted that truly decentralized stablecoins provide investors with 'algorithmic guarantees' to ensure that their funds do not evaporate due to asset seizures, while stablecoins backed by physical fiat assets lack any such guarantees. (Cointelegraph)