The next currency crisis may be harder to contain because of stablecoins, New York Fed report shows - CryptoSlate
The next currency crisis may be harder to contain because of stablecoins, New York Fed report shows - CryptoSlate
Source: CryptoSlate
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DW NOTE
The New York Fed is worried that stablecoins will let panicked depositors flee faster next time. That's the point. Capital flight is a symptom, not a disease — the disease is holding worthless assets at par and calling it banking. Stablecoins don't cause crises, they just refuse to pretend the emperor has clothes.