Yesterday billionaire Mark Cuban called for stablecoin regulation after algorithmic stablecoin IRON dramatically lost its peg falling to 66 cents on the dollar. The value of the associated crypto-asset TITAN went from $64 to close to zero in a matter of hours.
This isn’t an analysis of algorithmic stablecoins but a look at the challenges of stablecoin regulation and an area that regulators might have missed so far.
Cuban lost money, but those who experiment in DeFi acknowledge the risks. “The thing about defi plays like this is that it’s all about revenue and math and I was too lazy to do the math to determine what the key metrics were,” he told Bloomberg.
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