Stablecoins Could Threaten Euro Zone Banks and Global Markets, ECB Warns

Himasha Dissanayake, JadeTimes Staff

H. Dissanayake is a Jadetimes news reporter covering Technology

---

Source: Crypto times

The European Central Bank (ECB) has cautioned that the rapid rise of stablecoins poses growing risks to both euro zone banks and global financial stability. The digital assets, designed to maintain a stable value and widely used to buy other cryptocurrencies, now exceed $280 billion in market value. Although still relatively small, the ECB stressed that the issuers of major stablecoins have become some of the largest holders of U.S. Treasuries.

In its Financial Stability Review, the ECB argued that around 80% of all trades on centralised crypto platforms rely on stablecoins. This growing dependence could threaten euro zone banks by draining retail deposits, a crucial source of stable funding. “Significant growth in stablecoins could cause retail deposit outflows, diminishing an important source of funding for banks,” the central bank warned.

The ECB highlighted that the biggest threat lies in a potential investor run. The two largest stablecoins hold reserve assets comparable to the world’s top 20 money market funds. A rapid sell-off of their reserves could lead to a “fire sale” of U.S. Treasury bills, disrupting global markets. The report added that risks could also spread into the euro zone, particularly if a jointly issued stablecoin involves both EU and non-EU entities. In such cases, stricter EU regulations could make the EU issuer disproportionately exposed to redemption demands, magnifying the danger of a liquidity crisis within the bloc.

The ECB’s warning adds to growing international debate on how to regulate digital currencies to protect financial systems as crypto markets continue to expand.

Worcester City Clerk's Office is Ready for a Recount of Votes

Wanjiru Waweru, Jadetimes Contributor

W. Waweru is a Jadetimes News Reporter Covering America and Political News

---

Image Source: Spectrum News

Worcester, Massachusetts - The Worcester city clerk's office is heating up for a lengthy recount of city councilor at-large votes from November 4th's municipal election. The entire paperwork request was submitted on Friday, November 14, by candidate Jermoh Kamara, who completed only 23 votes of an at-large seat. Kamara selected for a hand recount of the 26,000 ballots, which is expected to cost the city nearly $106,000.

"We aren’t dealing with voting machines. We are dealing with hand recounts,  which includes poll workers, election officials, and it requires a lot of manual labor to review every single ballot to make sure every ballot is properly interpret,” city clerk Niko Vangjeli said. “Working for the city,  I've been a part of the recount last year in March. It was a contest with two names on them, you know, voting for one out of two candidates. It was a state committee republican ballot so basically we had only half the city. It took us about two days as well."

The city clerk's office plans to begin the blocking of ballots on Thursday, November 20, into Friday, November 21, prior to an official recount starting Saturday morning, November 22.

Wanjiru Waweru is a Jadetimes News Reporter covering America and Political News in the City of Worcester. You could email Wanjiru at sellmypaperwork@gmail.com and find more information about Sell My Paperwork.

Contact Information - Sell My Paperwork

Website: Sell My Paperwork - Webpage

Facebook: Sell My Paperwork - Facebook Page

Instagram: @sellmypaperwork 

Two West Virginia Guardsmen Shot Near White House in Targeted Attack; Victims Critical as Investigation Expands

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering the USA

---

Image Source: Chip Somodevilla/Getty Images

Two members of the West Virginia National Guard remained in critical condition after being shot while patrolling blocks from the White House on a rare Wednesday afternoon incident that drew widespread attention to security around the nation's capital. Officials described the attack as targeted and noted that the gunman was apprehended at the scene after bystander and officer intervention.

The victims, identified as Sarah Beckstrom, 20, and Andrew Wolfe, 24, were reportedly on duty in a routine security detail when a gunman emerged and opened fire around 2:15 p.m., according to statements from local police officials. Authorities said both soldiers were taken to a nearby hospital, where medical teams said their condition remained critical but stable enough to receive ongoing treatment.

Law enforcement agencies quickly mounted a broad response, with the FBI coordinating a coast-to-coast probe into the assailant’s background and movements. Search warrants were executed at a residence in Bellingham, Washington, and additional locations in San Diego, as investigators sought to determine a motive and any possible connections to broader security threats. Public safety officials indicated that the investigation would extend beyond domestic boundaries as necessary.

The suspect, identified by authorities as Rahmanuallah Lakamal, an Afghan national, has been described as having arrived in the United States in 2021 under federal programs linked to Afghan resettlement. Officials characterized the shooting as a terrorism-related attack, and prosecutors indicated they would pursue life-in-prison charges or, if warranted by outcomes for the victims, the death penalty.

President and local leaders weighed in as the city grappled with questions about security and the deployment of National Guard troops in major urban centers. In remarks broadcast by national media, officials emphasized the need to preserve public safety while maintaining civil liberties. The incident also prompted discussions about immigration and national security, with some political figures suggesting a reexamination of screening processes for entrants connected to federal programs.