Per the latest reports, the economist Stephen Moore is looking forward to launching his Moore stablecoin cryptocurrency after losing on a bid to be part of the board of Federal Reserve. Moore, along with other entrepreneurs, is planning to initiate a digital stablecoin ‘Frax,’ which will act as a new kind of central bank for stabilizing cryptocurrencies such as Bitcoin. At the beginning of the year, President of the United States tapped Moore to join the Federal Reserve; however, owing to the reason that the nomination fell short, the economist decided to launch Frax. What is Moore stablecoin: Frax? The
