What is a stablecoin, and why did the one known as TerraUSD break the buck and crash? Kenan Institute Chief Economist Gerald Cohen moderates this timely crypto conversation with University of California-Berkeley Haas School of Business Professor Christine Parlour, UNC Kenan-Flagler Business School Professor Eric Ghysels and Chief Revenue Officer Michael Coscetta of Paxos.
Beyond considering who should determine whether a coin can be called “stable,” the experts explore how different stablecoins are backed, the systemic risk in stablecoins and cryptocurrency and the potential need for regulation, and the need to bring finance into a 24/7 global world.