Key Highlights: A new Bank for International Settlements paper by economist Iñaki Aldasoro argues that bitcoin cannot function as money because it lacks trust architecture, a lender of last resort, and a responsive supply — while Strategy co-founder Michael Saylor contends bitcoin is capital, not currency, and is too valuable to be spent. Despite reaching ...
Key Highlights Bank of America CEO Brian Moynihan warned that as much as $6 trillion in traditional deposits could shift toward yield-generating stablecoins and related instruments. Research from the Federal Reserve and the Bank for International Settlements (BIS) indicates that while stablecoin reserves may flow back into banks, the shift alters funding stability and raises ...
The debate over how to represent fiat money onchain is intensifying, with Tether CEO Paolo Ardoino challenging the Bank for International Settlements’ (BIS) preference for…