Stablecoin adoption is one of the clearest macro trends in crypto right now. $77B+ market cap on USDC alone and $180B+ in tether.

Over $7 Trillion in monthly volume. Stablecoins are being integrated into mortgages, insurance, merchant payments. I've been looking at how to get exposure to this growth for a while now. I thought the obvious play was the issuer itself.
Then this week happened. $420M+ in stolen funds across 15 separate cases and a major regulated stablecoin issuer was either too slow or simple just didn't act. $232M was laundered through their own bridge over 6 hours during a live hack. No freeze, nothing.... but that same issuer froze 16 business wallets in days for a civil case. So the tools work, but they just weren't used when it actually mattered.
That rattled me honestly. Not on stablecoins as a whole, that thesis is only getting stronger every single day, but moreso on where I actually want to be positioned to the upside of this narrative.
I was looking at the issuer level. Now I'm thinking the smarter play might be further down the stack, the chains where the volume flows, the protocols settling it, the infrastructure that wins regardless of which stablecoin sits on top.
Don't have the full thesis yet. Still digging into it. What are your thoughts? What assets are on your radar? This is the kind of stuff I'm researching daily and if you want to follow the process, that's what I'm here for because bear markets present the BEST opportunities.