Janet Yellen says risks related to stablecoins are 'growing very rapidly' but they're not yet a real threat to financial stability

Cointelegraph

Center

High Factuality

Stablecoins’ recent depegging is not a ‘real threat to financial stability,’ says Janet Yellen

Janet Yellen hinted that the stablecoin market was not yet at a size in which UST dropping to under $0.40 and USDT briefly depegging from the dollar to hit $0.96 would create a “real threat to financial stability" in the United States.

Kitco NEWS

Center

Mixed Factuality

Yellen addresses stablecoin turmoil: not a 'real threat to financial stability,' but it's growing 'rapidly' and presents 'bank run' risks known for centuries

CryptoPanic

Stablecoins’ recent depegging is not a ‘real threat to financial stability,’ says Janet Yellen

Terra's UST dropped as low as $0.29 and Tether's USDT stablecoin briefly depegged from the dollar to hit $0.96 on Wednesday.

The NFT Unicorn

Stablecoins' recent de-pegging is not a 'real threat to financial stability,' says Janet Yellen

According to United States Treasury Secretary Janet Yellen, the stablecoin market is not at the scale at which the drop in the price of TerraUSD (UST) and Tether (USDT) below $1 would present a threat to the country’s financial stability. In a Thursday hearing of the House Financial Services Committee on the Financial Stability Oversight […]

DropTown

Janet Yellen Says the Stablecoin Market Is Not Yet a Financial Stability Concern

Janet Yellen Says the Stablecoin Market Is Not Yet a Financial Stability Concern Source link