Kyrgyzstan just killed its gold-backed stablecoin $USDKG
Government ordered a full wind-down. All 50M tokens getting burned after holders swap to fiat or $USDT.
Another reminder: sovereign-backed stablecoins are still at the mercy of regulators. Gold backing means nothing if the gov pulls the plug.
Stick to battle-tested stables or accept the rug risk ðŠĶ
Government ordered a full wind-down. All 50M tokens getting burned after holders swap to fiat or $USDT.
Another reminder: sovereign-backed stablecoins are still at the mercy of regulators. Gold backing means nothing if the gov pulls the plug.
Stick to battle-tested stables or accept the rug risk ðŠĶ