Why Bitcoin's Crash Wouldn't Create 'Systemic Risk' in Markets and Stablecoins Would

For the general public, the relevance of stablecoins is light years away from that of bitcoin.

Why Bitcoin's Crash Wouldn't Create 'Systemic Risk' in Markets and Stablecoins Would

For the general public, the relevance of stablecoins is light years away from that of bitcoin. Analysts dispute this, arguing that if bitcoin were to drop to zero dollars, its impact on traditional markets could be much more "limited" than that of the collapse of stablecoins.

There is no greater problem for a stable cryptocurrency than to stop being stable. And that is what has happened this week with the collapse of TerraUSD and, to a lesser extent, with the world's largest stablecoin, Tether. In both cases, being indexed to the


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