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Yale Economist Gorton Questions the Stability of Stablecoins

The prices of Tether and USD Coin have been reasonably stable to date. But without assured backing, stablecoins are vulnerable to panicky runs by holders who try to pull their funds out before others can, says Gary Gorton, an economist who is a finance professor at Yale School of Management.

China Says Huarong Operations Are Normal, Liquidity Ample (2)

China’s financial regulator said operations at China Huarong Asset Management Co. are normal and the company has ample liquidity, marking the first official comments aimed at easing investor concerns over the financial health of the nation’s largest bad-debt manager.

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