Freeman –– whose project also completed a funding round earlier this year, with backing from high profile investors including Peter Thiel, Coinbase and Distributed Global –– also noted that not all algorithmic stablecoins will “suffer the same fate,” continuing, “[d]esigns can even include ‘share’ tokens, so long as they aren’t the direct source of capital for purchasing stablecoins out of circulation.” Basis did not respond to Cointelegraph’s requests for comments by press time. Various models of stablecoins have surged in popularity this year, with major fiat-back coins gaining the spotlight in the past few months. In October, top crypto exchanges Huobi and OKEx both added four major fiat-backed stablecoins –– USD Coin (USDC), True USD (TUSD), Paxos (PAX) and the Gemini dollar (GUSD) –– to their platforms.

https://cointelegraph.com/news/major-stablecoin-basis-to-close-return-funds-to-investors-sources