Do Stablecoin Inflows Push Down Treasury Bill Yields?
A BIS working paper finds a 3.5 billion dollar stablecoin inflow lowers 3-month T-bill yields by 0.71 basis points at once and up to 4 within 10 days.
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2 articles
Did Tether Inflate Bitcoin in 2017? What the Study Found
Griffin and Shams (Journal of Finance): Tether flows followed price drops and preceded Bitcoin rises. What they measured, what they could not prove.