Why the Fed hates cryptocurrencies and especially stablecoins

“[They’re] popular because it’s money that’s independent of politicians and bankers,” said Mati Greenspan, portfolio manager and Quantum Economics founder. “People want the separation of government and money. They clearly don’t get that.”

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“Were diem, or even a Chinese CBDC, to be accepted by many other countries, the U.S. dollar would lose its dominance,” continued Bordo.