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Stablecoin collapse: The horse has bolted
Description
Stablecoins are a core part of the financial plumbing when it comes to cryptocurrency and digital assets. They promise that if you put a dollar in, you will always be able to get a dollar out.
But last week saw Terra, one of the largest stablecoins, lose its peg to the dollar and collapse. Investors are estimated to have lost over $40 billion in value. Ouch.
We dig into what happened, what might be the consequences for markets and whether stablecoins present a systemic risk to the economy.
And in the Dumb Question of the Week, we ask: What exactly is a Ponzi scheme?
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This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice.
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