Peter Schiff Criticizes Trust in Stablecoins and Tokenized Gold

According to PANews, cryptocurrency critic Peter Schiff recently expressed his views on social media, arguing that if tokenized gold is considered a scam due to the need for third-party trust, then stablecoins, which also require third-party custodianship of U.S. dollars, should be viewed similarly. Schiff highlighted the irony that many Bitcoin users who support and frequently use stablecoins claim that tokenized gold is a scam. He pointed out that the issue lies in the necessity of trusting a third party to safeguard their gold, questioning how this differs from the reliance on third parties to hold tokenized U.S. dollars.