Probably, the L2 project #Blast has become one of the most promising, discussed and controversial cases of 2023. An analysis of the technical component of the project, the features of the record growth of TVL, as well as the business model declared by the developers, demonstrates the presence of serious problems that are hidden under the general enthusiasm and hype...Would you like to know more?)))

Optimists took a cautious look at the market and rushed to announce the end of the long crypto winter. However, the situation and dynamics on the market clearly hint that the real #“winter is coming.” 

This is not about the dominance of #USDT in the segment and megatons of squabbles and disputes about this. Absolutely! It doesn’t matter what kind of asset it is, you can come up with a new coin, #As*hol*e-coin, and install it in leader.

The important thing is that the market is critically prone to blitzkrieg monopolization. The existing experience and practice of regulatory policy demonstrates, rather, that this toolkit can act as an aid to the targeted nature of the next “monopoly revolution” in the market.

The global economy is in deep … situation of As*hol*e-coin.. This main and most significant factor has not disappeared or dissolved. It does not and cannot be the case that everything around is going to Tartarus, on a small "federal island" where the “digital economy” feels great.

The fundamental task regarding the preservation of the crypto market, as a result of which sustainable forms of projects will not be solved. The prospect of fully building a digital financial system, as some kind of alternative (or even replacement) to traditional money in the world, is somewhat vague.

Attempts to create stable stablecoins with reliable fiat collateral (or another type) inevitably have problems with projecting all the typological problems of fiat funds onto the principles of stablecoin operation. The stability that comes from the fundamental rules of the game of the traditional financial sector easily turns into a liquidity crypt.

With this approach, the factors of stability of the crypto market will inevitably be preserved differentially and ensure crisis processes. This can only preserve the secondary and appendage style of the industry to the appetites of the generalized "Wall-streets Cthulhu". And the pseudo-alternative nature of the industry will soon be limited to obscene anecdotes and mocking couplets...

"Smell of napalm-regulation in the morning.. Smelled like...victor!"
The finish of #BUSD can be considered a kind of postscript to 2023 and a preview to 2024, and the dynamic transformation of the landscape of the stablecoin segment. Testing of various regulatory policy standards, competition between projects and national regulators will likely become a key background for changes in the industry.
The USA, China, the EU and separately the UK (as the winner of the “situational delinking” grand prix) will deploy the main calibers in the “war for the cryptocurrency inheritance”. The most active progress in the field of regulation is observed in the United States. At the same time, the general logic of these events suggests that by the widely discussed tokenization, the US establishment and financial institutions mean #dollarization (more precisely, #“treasuryization” ) of the industry, as part of the global financial market.
#ArthurHayes recently rightly pointed out a number of problems associated with the bursting of the sovereign debt bubble. However, in the author’s humble opinion, #“institutional_dollarization” will primarily hit the connecting and most “narrow” segment of the crypto industry – the stablecoin infrastructure.
Instead of the ideals of “financial freedom” - cashback “the Marshall Plan for PAX Americana”

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