$6.6 Trillion at Risk: Wall Street Fears Stablecoins Could Disrupt the Financial System

The cryptocurrency market is experiencing a sharp downturn, wiping out billions of dollars in value and leaving investors reeling. Bitcoin recently plummeted to its lowest point since its all-time high, with coins like Ethereum, Solana, and XRP also facing significant losses. Amidst this volatility, Wall Street has raised concerns over $6.6 trillion in potential liquidity risk tied to stablecoins. This threat not only impacts the cryptocurrency market but could also destabilize the broader financial system.