Paul Ryan: Next President Could Have a Debt Crisis
Former House Speaker Paul Ryan says the next President could very well face a debt crisis. He says neither President Joe Biden or Donald Trump are doing enough when it comes to getting new trade deals signed. He speaks to Bloomberg's David Westin from the Milken Global Conference. Visit Bloomberg - Are you a robot?

A stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities (such as precious metals or industrial metals), or another cryptocurrency.[1]

In theory, 1:1 backing by a reference asset could make a stablecoin value track the value of the peg and not be subject to the radical changes in value common in the market for many digital assets.[2] In practice, however, stablecoin issuers have yet to be proven to maintain adequate reserves to support a stable value and there have been a number of failures with investors losing the entirety of the (fiat currency) value of their holdings.