In the Shadow of Bank Runs: Lessons from the Silicon Valley Bank Failure and Its Impact on Stablecoins

Chuan Du, Ria Sonawane and Cy Watsky
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Chuan Du: https://www.federalreserve.gov/econres/chuan-du.htm
Ria Sonawane: https://www.federalreserve.gov/econres/ria-s-sonawane.htm

No 2025-12-17-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Stablecoins are crypto-assets designed to maintain a stable value against a reference asset, typically the U.S. Dollar. The peg to the dollar is supported by the assets that back the stablecoin. Stablecoins perform dollar-like functions in decentralized finance (DeFi) and represent a run-able liability for their issuers.

Date: 2025-12-17
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-12-17-2

DOI: 10.17016/2380-7172.3958

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