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Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel

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Abstract

Stablecoins---digital currencies pegged to an external reference (e.g., the US dollar)---play an increasingly important role in transacting digital currencies. However, with a peg to an external reference comes the risk that the peg breaks and, akin to runs on other financial instruments, the risk of a stablecoin run.

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  • Austin Adams & Markus F. Ibert, 2022. "Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel," FEDS Notes 2022-06-02, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2022-06-02
    DOI: 10.17016/2380-7172.3121
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/runs-on-algorithmic-stablecoins-evidence-from-iron-titan-and-steel-20220602.htm
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    Cited by:

    1. Jean Barthélémy & Paul Gardin & Benoit Nguyen, 2023. "Stablecoins and the Financing of the Real Economy," Working papers 908, Banque de France.

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