Peter Schiff: If tokenized gold is a scam because it requires trusting a third party, then stablecoins backed by dollars held by a third party are also a scam

Jinse Finance reported that cryptocurrency critic Peter Schiff tweeted that if tokenized gold requires trusting a third party, then it is a scam, and the same applies to stablecoins that require trusting a third party to hold US dollars. "Surprisingly, many Bitcoin users who support and frequently use stablecoins claim that tokenized gold is a scam. Their issue is that they must trust a third party to hold their gold. But how is this any different from tokenized US dollars? Tokenized US dollars also require trusting a third party to hold their dollars."