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Financial Crises

Stablecoins Survived ‘Crypto Winter,’ But That Doesn’t Make Them Safe

Cryptocurrencies such as Tether, which is pegged to the dollar, have held on as others crashed. But according to new research by Yale SOM’s Gary Gorton, these “stablecoins” still pose major risks to the global financial system.

A dollar floating in a frozen landscape with stablecoins tethered to it