The Dollar Is Becoming Software. Most Investors Are Watching the Wrong Thing.

Stablecoins look simple. One token. One dollar.But the price tells you almost nothing about the machine underneath it.In this episode, I break down the four questions I think matter more than market cap: reserve, redemption, custody and yield—and why the bigger stablecoin story isn't really about crypto at all.It's about the dollar becoming programmable financial infrastructure.And if stablecoins become a major settlement layer for payments, tokenized securities and on-chain finance, another question becomes even more important:Who actually captures the value?Read my full Stablecoin Risk Map and research at Token Trust Advisors. Where do you stand? Most crypto investors know what they own. Few know where they actually stand as finance moves on-chain. Start with ALEN, my free 60-second diagnostic for understanding where durable value capture may be forming. → https://tokentrustadvisors.xyz/alen Want to know what I'm watching before it becomes a headline? Signals tracks the infrastructure, tokenization, institutional moves, and capital flows I believe matter next. → https://tokentrust.substack.com Want to talk through your own positioning? Book a Digital Capital Positioning Session with me. It's a one-on-one session for investors, advisors, founders, and allocators who want to understand where they stand — and what they may be missing. → https://www.tokentrustadvisors.xyz/digital-capital-positioning-session If this episode helped you see where capital is moving differently, follow the show and leave a review. It helps more investors discover the podcast. The Chip Mahoney Crypto Show is part of Big Pond Podcast and represented by DV Collective. Views are for educational and informational purposes only and should not be considered financial advice. Music licensed through Spotify Creators. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.