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About Bluechip
Bluechip is an independent stablecoin rating agency that focuses on assessing the reliability and risks of various stablecoins, providing services similar to traditional credit rating agencies (such as Moody's and S&P) but focused on the crypto asset space.
Its core competitiveness lies in its proprietary SMIDGE evaluation framework, which comprehensively scores stablecoins across six dimensions: Stability, Management, Implementation, Decentralization, Governance, and External factors. Additionally, Bluechip has partnered with blockchain security firm Hacken to incorporate technical risks (such as smart contract vulnerabilities and oracle failures) into its rating system, making the assessment more comprehensive. As an independent third party, its ratings do not depend on issuers and carry high credibility.
In terms of market pain points, the stablecoin market is a mixed bag. Many projects claim "1:1 pegging" but have opaque reserves or technical vulnerabilities that can lead to de-pegging. Investors lack authoritative and systematic risk assessment tools to distinguish good from bad. Bluechip helps users identify high-risk projects through public and verifiable ratings, promoting industry transparency.
In the past six months, Bluechip has been active. In May 2026, it released the report "Mapping the Top 100 Stablecoins" in collaboration with Banxa and TON Foundation, pointing out that the global stablecoin market is highly concentrated, with the top five stablecoins accounting for 91.5% of the market share, and analyzed future trends. Meanwhile, the partnership with Hacken has been implemented, integrating technical risk scores into the rating system, enhancing the depth of assessments. These moves have solidified its leading position in the stablecoin rating field.
Bluechip partnered with security audit firm Hacken in August 2026 to formally integrate technical risk scoring into its SMIDGE rating framework, covering dimensions such as smart contract quality, supply integrity, oracle and bridge risk.
In September 2026, following a full financial audit of Tether's 2025 statements by KPMG US with an unqualified opinion and Hacken's technical risk assessment, Bluechip upgraded USDT from D to C, while stressing that structural gaps such as asset segregation, external oversight and redemption policy remain unresolved.
According to officially announced roadmap, Bluechip will gradually apply the updated rating methodology to all covered stablecoins over the coming months to standardize technical risk scoring.
Co-founders:
Benjamin Levit (CEO): Entered crypto in 2016 as a professional poker player; later built an e-commerce business; holds a degree in electromechanical engineering from Temple University.
Garett Jones (Chief Economist): Professor of Economics at George Mason University; researches behavioral macroeconomics, monetary policy, and corporate finance; former advisor to Reserve Protocol; PhD in Economics from UC San Diego.
Current core executives:
Amey Dandawate (Ratings Director): Formerly led a team of research analysts at Delphi Digital, producing token due diligence for institutional clients; holds a Master's in Finance from EBS Universität.
Philipp Hochreiter (Regulatory Research Director): Spent five years at Austria's Financial Market Authority; held senior compliance roles at Erste Group and Bitpanda; founder of Stiltskin Regulatory Consulting; holds a Master's in International Economics from Johns Hopkins SAIS.