WebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Crypto Prices
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
Crypto Prices
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Guides
  • PR
  • Sponsored
WebsCrypto
WebsCrypto—News—Altcoin News—Nobel Laureate Steve Hanke: Stablecoins Face Cross-Currency Settlement Risks
Altcoin News

Nobel Laureate Steve Hanke: Stablecoins Face Cross-Currency Settlement Risks

By WebsCryptoJune 30, 2022
Nobel Laureate Steve Hanke: Stablecoins Face Cross-Currency Settlement Risks
Facebook Twitter Telegram LinkedIn Reddit Email

Stablecoins face cross-currency settlement risks due to time lags, Nobel laureate Steve Hanke said in an interview with Yahoo Finance on Wednesday.

The economist warned of cross-currency settlement risks for stablecoins because they flow between buyers and sellers in minutes, but the assets backing these stablecoins take at least a day to settle.

Hanke referred to the 1974 Bankhaus Herstatt crisis, when Bankhaus Herstatt, which had $800 million in assets, was closed by Federal German authorities after suffering $450 million in foreign exchange and other losses.

In the digital asset ecosystem, TerraUST, an algorithmic stablecoin pegged to the U.S. dollar, was previously de-pegged from the U.S. dollar, putting the rest of the crypto market at risk, according to Hanke.

Related:  Bonk Token Rockets as Traders Seek High Yields in Solana Ecosystem
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Crypto Cryptocurrency
Related News
Market News March 18, 2023

Dutch Financial Market Watchdog to Take Tough Stance on EU Cryptocurrency Regulations

Business News March 18, 2023

FTX Debtors Report $11.6 Billion in Claims and $4.8 Billion in Assets to Bankruptcy Court

Altcoin News March 18, 2023

Paxos Processes Over $7.9 Billion in BUSD Redemptions in 32 Days, Commits to Backing BUSD for At Least a Year

Bitcoin News March 18, 2023

Bitcoin Options Weekly Volume Hits $7.94 Billion, Highest Since October 2021

Bitcoin News March 18, 2023

Glassnode Reports Bitcoin Below 200-Week Moving Average for First Time in History

Ethereum News March 17, 2023

Vitalik Buterin: Both Personal and Ethereum Foundation Funds Stored in Multi-Signature Wallets

The Latest
Bitcoin News March 19, 2023
Bitcoin Unfilled Contract Down by About 300K BTC Since October 2022 Peak
Business News March 19, 2023
RSS3 Launched an AI Open Platform for Developers to Train GPT Models on Chain Data
Ethereum News March 19, 2023
Ethereum Sees Second-Highest Voluntary Validator Exits Since Merger
NFT News March 19, 2023
DeGods Announces BTC DeGods Sold Out in One Bitcoin Block and Sends Inscriptions Based on Transaction Time
NFT News March 19, 2023
RTFKT Announces Nike Air Force 1 Digital Shoe Selection on April 23rd
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter Instagram LinkedIn Telegram RSS
News
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Market News
  • Business News
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Services
  • About Us
  • Contact Us
  • Advertise
© 2023 WebsCrypto.
  • Privacy Policy
  • Terms of Service

Type above and press Enter to search. Press Esc to cancel.