Uncertainty is affecting what used to be the safer end of the market.
Stablecoins are less volatile, and considered a safer bet than many cryptocurrencies.
While cryptocurrencies have exploded in value, so has this sub-genre that mimicks real-world assets like the US dollar.
Decentralized finance makes it easier for virtually anyone to take advantage of financial markets without the need for a bank, but there are new risks as well.
Financial regulators are increasingly concerned about stablecoins, a type of cryptocurrency tied to an asset like the US dollar.
Operators like BlockFi and Nexo offer rates that are north of 9%.