📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
🎮 This round focuses on: Yooldo Games (ESPORTS)
✍️ Share your unique insights and join promotional interactions. To be eligible for any reward, you must also participate in Gate’s Phase 286 Launchpool, CandyDrop, or Alpha activities!
💡 Content creation + airdrop participation = double points. You could be the grand prize winner!
💰Total prize pool: 4,464 $ESPORTS
🏆 First Prize (1 winner): 964 tokens
🥈 Second Prize (5 winners): 400 tokens each
🥉 Third Prize (10 winners): 150 tokens each
🚀 How to participate:
1️⃣ Publish an
Golden Finance reported that former Federal Reserve policy analyst Brendan Malone wrote a report on behalf of Paradigm that stablecoins cannot be compared with bank deposits in terms of risk. The document explores the risks that stablecoins pose to the financial system, noting that current legislative proposals in the United States could incorporate encrypted payment instruments into the existing banking and securities framework.
According to Malone, stablecoins pose less risk than bank deposits because when banks take short-term deposits and use those funds to make long-term loans that are not repaid for years, they face so-called maturity transformation. Maturity transformation poses ongoing risks for banks requiring permanent risk management, whereas fiat-pegged stablecoins inherently pose no similar risk as their reserve assets are typically backed by short-term Treasury bills and Segregated from the issuer's assets.