Study: The collapse of stabilcoins can collapse the US bond market – Bits Media

The study of the University of Cornell showed, that the fall of users confidence in stablecoin can lead to a collapse in the US bond markets and treasury obligations.

In the report of the experts of the University of Cornelsky, the US University is noted, What about the background ongoing cryptosims, Stebblecoins became a preferred choice for many crypto -investors, wishing to trade various digital assets or convert them into fiat money.

At the same time, emittenes of stablecoins, who intend to demonstrate the reliability of their crypto assets to the community, actively forming reserves by acquiring government bonds and treasury obligations of the United States.

The USDT Tether stablecoin issuer stores more 58% their reserves in US Treasury bonds, Which is equivalent to about $40 billion. The USDC Circle Steabelcoin issuer has treasury bonds in its reserve in the amount of about $12.7 billion, And the issuer Busd Paxos acquired a package of US treasury bills worth more $6 billion.

Commenting on the results of the study, Professor of Economics of Kornelsk University Esvar prasad (Eswar Prasad) said, that during his conduct, he talked with representatives of several regulatory bodies of the United States, who are concerned about the growing influence of stablecoins on traditional financial markets.

"The concern of the regulatory authorities lies in, that the loss of confidence in stablecoin can cause a wave of repayment. This will mean, that the issuers of stablecoins must sell their assets in treasury securities. At the same time, a large amount of repayments even in a fairly liquid market can create a panic in the basic securities market ", - said Prassad.

He specified, that current mood in the US bonds are unstable, And any incident with stablecoins can lead to the effect of the multiplier and create a strong pressure on the sale of treasury bonds.

Earlier, analysts of the Central Bank of Canada called for regulators to more careful supervision of stablecoins in connection with their risks for the international financial system.