Circle Plummets 15% as BIS Sounds Alarm on Stablecoin Dangers – Is the Crypto Party Over?

Stablecoin giant Circle takes a nosedive while regulators sharpen their knives.

The Bank for International Settlements just dropped a truth bomb that's rattling crypto traders: your beloved stablecoins might be financial time bombs. Meanwhile, Wall Street's latest meme-stock frenzy loses steam faster than a Bitcoin miner facing 90% difficulty adjustment.

Here's why the 'stable' in stablecoin suddenly looks shaky...

• Circle's USDC takes 15% haircut as liquidity fears spread

• BIS report compares unbacked stablecoins to 'pyramid schemes' (ouch)

• Retail traders suddenly remember stocks can go down too

Funny how these 'systemic risks' only get attention after billionaires finish dumping their bags. The crypto market shrugs off another warning – until it doesn't.