3 Key Takeaways Bank of America CEO Brian Moynihan warned that $6 trillion in bank deposits, roughly 30-35% of all U.S. commercial bank deposits, could migrate to stablecoins if Congress allows interest-bearing stablecoin products The banking industry’s fear is simple…
Senator Cynthia Lummis Rebuts Elizabeth Warren: Fiat’s $900M Laundering vs. Crypto’s $900K. Crypto not the problem
US Senator Cynthia Lummis countered Senator Elizabeth Warren’s criticism of cryptocurrency, highlighting a significant disparity in the volume of money laundered through fiat currency compared to cryptocurrency. Senator Lummis emphasized that over $900 million has been laundered using fiat, starkly…