The not-so-stable stablecoin economy
Publisher |
Marketplace
Media Type |
audio
Categories Via RSS |
Business
News
Publication Date |
May 17, 2022
Episode Duration |
00:07:59

Last week, we got a stark reminder of the volatility of cryptocurrencies. Bitcoin plummeted to its lowest value in 16 months. This time, the source of the cascade of selling came from an unexpected quarter. The market crashed after investors fled a type of crypto called stablecoins, whose worth is pegged to a traditional currency, like the U.S. dollar. Last week, that kinda fell apart. Marketplace’s Kimberly Adams speaks with Emily Nicolle, a crypto blogger for Bloomberg, about how stablecoins work.

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