
Stablecoins Pose a Systemic Risk—Could They Trigger a 2008-Level Crash?
The growth of stablecoins comes with the risk of financial ecosystem collapse.Alternatives to dollar-backed stablecoins are growing, with Tether and Circle’s share threatened. The market capitalization of stablecoins has surged to over $230 billion, increasing by 90% since late 2023. Using stablecoin for international transactions has strengthened the US dollar as the dominant global currency. ...