2min chapter

Many Happy Returns cover image

Dry Powder: Where to Park Your Cash

Many Happy Returns

CHAPTER

What's the Difference Between Investment Banks and Shadow Banks?

Stablecoin is a kind of cryptocurrency, which tracks the price of a dollar. They invest in things like commercial paper and short term government bonds. It's also very much like money market funds, but they don't have regulations. The shadow banks are the most risky part of the system because they're not regulated.

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