Bitcoin pump and dump.<p>1) Slowly accumulate bitcoin.<p>2) Mint stable coins and "loan" them to certain big customers (i.e. players in this scheme). Note that the only "backing" of these coins is just a promise --- not USD.<p>3) Big customers/players use "loaned" stable coin to buy bitcoin --- thus inflating bitcoin price.<p>4) Small investors/speculators see rising bitcoin and jump in to buy inflating price even more.<p>5) All together now --- sell bitcoin at inflated prices. Profit!<p>6) Stop minting and "loaning" stable coins. Bitcoin drops. Naive small investors get screwed.<p>7) Repeat at step 1.<p>What facilitates this scheme is people accept the fiction that the stable coin is 100% backed by USD.<p>Doing this in any "regulated" market would subject you to a huge fine, prison time or both.