Crypto and Financial Crises
Document Type
Presentation
Publication Date
Spring 4-9-2025
Conference / Event Title
IBC Bank & Commerce Bank 2024-2025 Keynote Speaker Series
Conference / Event Location
Laredo, TX.
Hosting Organization
Texas A&M International University
Abstract
Professor Allen discussed the crypto ecosystem (with a particular emphasis on DeFi), and explain how its fragilities mirror the fragilities of financial innovations developed in the run up to the global financial crisis of 2008. She cautions that crypto innovation will not democratize finance, make finance more efficient, or promote financial inclusion, and argues that – given crypto’s risks – it is therefore bad public policy to support this kind of innovation. In particular, she will emphasize that the integration of crypto into our traditional financial system is likely to make our system highly fragile, and so she argues for a firewall between crypto and traditional finance.
Conference URL
https://www.tamiu.edu/newsinfo/2025/03/ibcbankcommercebankseries32025.shtml
External Links
https://www.tamiu.edu/newsinfo/2025/03/ibcbankcommercebankseries32025.shtml
Recommended Citation
Allen, Hilary J., "Crypto and Financial Crises" (2025). Presentations. 1051.
https://digitalcommons.wcl.american.edu/pub_disc_presentations/1051