Episode 1 of an 8-part series on building and launching stablecoins. A comprehensive analysis of stablecoin evolution from 2017-2025, covering major events like the Terra/UST collapse, the GENIUS Act, and strategic lessons for launching new stablecoins. Learn about the "Three Pillars of Trust" and why fully-backed models dominate the $280B market. Full research report: https://research.yuda.me/podcast/episodes/stablecoin-series/episode-1-market-evolution/report.md