“I believe in open standards, open protocols, and open ecosystems,” Hoskinson said.
That comparison directly targeted Tether and Circle, whose platforms can freeze wallets, blacklist addresses, and restrict access when needed. Both companies also have the ability to freeze funds and blacklist addresses when required.
For Hoskinson, that difference matters as crypto increasingly moves toward global payments, tokenization, and digital banking.
Why Stablecoins Are Becoming a Bigger Crypto Battle
Hoskinson’s comments come at a time when stablecoins are becoming one of the biggest sectors in crypto.
According to Defilama, the total market cap of fiat-backed stablecoins reportedly crossed $322 billion in May 2026, while adjusted stablecoin transaction volume reached nearly $11.45 trillion last year.
At the same time, stablecoin regulation is becoming a major political issue in Washington as lawmakers debate new crypto legislation tied to payment systems and banking rules.
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