What is the point of a "stable coin" especially when it is say pegged to the dollar. i.e. 1 to 1. It means nothing because why not just use Dollars in the first place. It serves no purpose.... Unless you didn't really have those dollars in the first place? Because otherwise it's just transferring money with extra steps (fraud) in the middle. The only possible justification of having it is that you don't have the dollars in the first place.
What else do people expect? Stablecoins are proving to be anything but stable. They're just the latest in the line of lies that is cryptocurrency.