PANews reported on October 19 that according to CoinDesk, Greg Cipolaro, global head of research at NYDIG, said that stablecoins such as USDC, USDT, and USDe are not truly pegged to the US dollar, but fluctuate according to market supply and demand. In essence, they can only be regarded as a market trading tool. The so-called "stability" of stablecoins is actually determined by arbitrage and market dynamics. For example, traders buy when it falls below $1 and sell when it rises above $1. Users often misunderstand the real risks associated with these assets.