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Gordon Y. Liao

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    • Barron's
      1 article

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    • Banks Dominate Payment Systems. The Risks Are All Too Clear.
      26 Mar 2023—Barron's
      About the author: Gordon Y. Liao is the chief economist at Circle Internet Financial, a global financial technology company, and a former senior economist at the Federal Reserve Board. The collapse of Silicon Valley Bank should prompt a reckoning on how money flows through the financial system. Many financial-technology companies relied on SVB because, as a bank, it provided exclusive access to the payment systems that allow large values to be sent and received. The risks of that exclusivity...

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