Fake Stablecoins Flood Chinese Market, Authorities Issue Warning
According to the local watchdogs, there’s been a *whole bunch* of projects rolling out fake stablecoins. How fake, you ask? Well, they don’t even have reserves to back them up. Shocking, I know. These tokens are like that one friend who promises to buy you lunch and then somehow “forgets” their wallet. They lure unsuspecting investors with promises of high returns and “stability”—but let’s be real, it’s just a house of cards built on nothing. 😬