SpaceX Elon Musk uses stablecoins to hedge against currency risks

Chamath Palihapitiya, a prominent venture capitalist from Silicon Valley, noted in his appearance on the All-In podcast on Friday that SpaceX uses stablecoins to hedge against currency risks.

Currency risks are associated with potential losses arising from significant changes in exchange rates. For example, an American company with clients in Brazil who pay their bills in Brazilian reais (BRL) may incur losses when this currency is converted to U.S. dollars.