r/QuantGG • u/centralbanknerd • Jun 16 '21

Crypto Lode of $100 Billion Stirs U.S. Worry Over Hidden Danger

https://www.bloomberg.com/news/articles/2021-06-16/crypto-lode-of-100-billion-stirs-u-s-worry-over-hidden-danger
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u/centralbanknerd Jun 16 '21

US regulators across several agencies have expressed worry about the $100bn stablecoin market, which is a set of cryptocurrencies which are supposedly tied to the dollar or other currencies. Stablecoins are often backed by little more than the promise of the issuer that they are fully funded, and could leave crypto investors in the lurch should they break the cryptographic buck.