Tether co-founder’s new coin STBL is already down 80%
STBL, the once-$300 million coin that Tether co-founder Reeve Collins launched a month ago, has dumped 80% as of publication time. Five wallets, all funded via Tornado Cash on March 13, 2024, ranked among the coin’s most profitable traders and extracted a combined $17 million. This means that the asset now has a mere $50 million in market cap left for everyone else. Dozens of sales — heavily weighted toward its lofty debut and price spikes through early October — showcase curious trading prowess. business conducted https://t.co/gGKUQNbPrn — smolting (wassie, verse) (@inversebrah) October 20, 2025 Collins claims that STBL, which briefly benefitted from his fame as a Tether co-founder, is a governance token for USST. He also calls it a “next evolution” USD-pegged stablecoin, despite it apparently having less than $1.6 million worth of available collateral . The coin isn’t even listed on CoinMarketCap or CoinGecko. By comparison, tethe...