Bridge executive: Tether and Circle's dominance is generally detrimental to stablecoins.

CoinFeed reported on May 7th, citing CoinDesk, that Ben O'Neill, Head of Liquidity at Bridge, stated at the Consensus conference that the dominance of Tether and Circle in the stablecoin market is generally detrimental to the growth of the entire industry. He pointed out that while the design choices of these two issuers have their advantages and disadvantages, they are not suitable for all use cases. Tether has built a dollar shadow economy independent of the US financial system; while Circle's USDC follows a US-regulated path and is deeply involved in DeFi.