PANews reported on June 2 that according to CryptoSlate, Nobel Prize winner in economics Paul Krugman compared the issuers of stablecoins to the "antebellum banks" before the American Civil War in the 19th century in a blog post, calling them "wildcat banks with enhanced technology", and criticized stablecoins as "new shadow banks" mainly used to evade regulation. He pointed out that stablecoins are not suitable for daily payments, and their only advantage is anonymity, which is the root cause of their facilitation of crime. He warned that once large-scale redemptions occur, it may trigger a sell-off of U.S. Treasury bonds and impact the financial system. CoinMetrics co-founder Nic Carter refuted his views as "seriously misleading", saying that hundreds of millions of users have proved the practical value of stablecoins.