Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX, criticized both custodian and decentralized stablecoins and proposed a new stablecoin called the Satoshi Nakamoto Dollar, or NakaDollar (NUSD). Unlike existing stablecoins, NUSD would be supported only by Bitcoin. — In a blog post published on March 8, Hayes stated that stablecoins do not necessarily need to be decentralized, and that “overcollateralised stablecoins such as MakerDAO’s DAI and algorithmic stablecoins such as TerraUSD are fundamentally unnecessary (sic)”. …