#稳定币市场 JPMorgan Chase freezes stablecoin startup accounts. This may seem like a risk control move by the bank, but at its core, it hits the most easily triggered pitfall in the crypto space— the illusion of compliance.

I've seen too many people fooled by the "stability" of stablecoins, thinking that holding USDT or USDC is like holding a safety net. But what happens when banks start to tighten restrictions? When policies in high-risk markets change, these seemingly stable assets can instantly become hot potatoes. Stablecoin projects like Blindpay, which expand their business in countries like Venezuela and Iran, are essentially challenging the bottom line of national financial controls—behind bank account freezes is a message: I won't take responsibility for this.

The key point here is: no stablecoin can escape the constraints of fiat channels. No matter how much USDT you hold, ultimately it must be converted into USD to be meaningful, and that channel is controlled by banks. Looking at history, this is similar to how certain cryptocurrencies were delisted from exchanges in 2021—appearing sudden, but actually on the path to happening.

If you want to survive longer, don’t put all your chips on those high-wire stablecoin projects. Diversify holdings, regularly assess counterparty risks, and pay attention to the regulatory stance of your location. Stablecoins are cheap and convenient, but their affordability is a signal—think about what the cost of that cheapness really entails.