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The most significant risk with any stablecoin is the potential for its peg to break, causing it to lose its value relative to the underlying asset. Depegging is where the value of a stablecoin deviates significantly from its pegged value.

To protect against cryptocurrency scams, here are some of the common red flags: promises for large gains or double the investment; only accepting cryptocurrency as payment; contractual obligations; misspellings and grammatical errors in emails, social media posts or any other communication;

There have been several examples of algorithmic stablecoins that failed to maintain their pegged value, the biggest recently in the news being TerraUSD (ticker UST) with its internal LUNA.

By holding stablecoins, investors can protect their portfolios from sudden drops in the value of other cryptocurrencies or traditional assets, providing a haven during market turbulence. As stablecoins like Tether or USDC are pegged to a stable asset, their value remains stable.

Counterparty Risk: Stablecoins are often backed by other assets, like fiat currency or cryptocurrencies. If the company or entity holding these assets fails, you could lose your investment. This is known as counterparty risk, and it's necessary to understand who is backing the stablecoin and what assets they hold.

Reserves held by asset-backed stablecoins are subject to market, credit and liquidity risks. There are heightened risks due to unregulated issuers and service providers, opacity and complexity of the crypto ecosystem, and a lack of recourse for lost or stolen crypto-assets.

Though there are infinite ways the future of money can evolve, Prasad predicts the combination of cryptocurrency, stablecoins, central bank digital currencies (CBDCs) and other digital payment systems will lead to the “demise of [physical] cash.” However, he emphasizes that one technology alone won't overtake it.

Legal action, hiring a lawyer specializing in cryptocurrency scams, and reaching out to exchanges are options for recovery. International legal options can be pursued, and real-life success stories provide hope for recovery.

The most significant risk with any stablecoin is the potential for its peg to break, causing it to lose its value relative to the underlying asset. Depegging is where the value of a stablecoin deviates significantly from its pegged value.

To protect against cryptocurrency scams, here are some of the common red flags: promises for large gains or double the investment; only accepting cryptocurrency as payment; contractual obligations; misspellings and grammatical errors in emails, social media posts or any other communication;

There have been several examples of algorithmic stablecoins that failed to maintain their pegged value, the biggest recently in the news being TerraUSD (ticker UST) with its internal LUNA.

By holding stablecoins, investors can protect their portfolios from sudden drops in the value of other cryptocurrencies or traditional assets, providing a haven during market turbulence. As stablecoins like Tether or USDC are pegged to a stable asset, their value remains stable.

Counterparty Risk: Stablecoins are often backed by other assets, like fiat currency or cryptocurrencies. If the company or entity holding these assets fails, you could lose your investment. This is known as counterparty risk, and it's necessary to understand who is backing the stablecoin and what assets they hold.

Reserves held by asset-backed stablecoins are subject to market, credit and liquidity risks. There are heightened risks due to unregulated issuers and service providers, opacity and complexity of the crypto ecosystem, and a lack of recourse for lost or stolen crypto-assets.

Though there are infinite ways the future of money can evolve, Prasad predicts the combination of cryptocurrency, stablecoins, central bank digital currencies (CBDCs) and other digital payment systems will lead to the “demise of [physical] cash.” However, he emphasizes that one technology alone won't overtake it.

Legal action, hiring a lawyer specializing in cryptocurrency scams, and reaching out to exchanges are options for recovery. International legal options can be pursued, and real-life success stories provide hope for recovery.