The rapid growth of the decentralized finance (DeFi) sector is fraught with several challenges, including run risks among major stablecoins, according to a new report by the Federal Reserve Bank of New York. Titled “The Financial Stability Implications of Digital Assets,” the report provides an overview of stablecoins as part of the broader crypto ecosystem, pointing, among other things, to several features that “introduce novel vulnerabilities" to both crypto and traditional finance's stability. (full story)