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Crypto Owners May Get Priority in the Event of Bank Failures (jacobin.com)

submitted 1 week ago by [email protected] to c/[email protected]

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The US Senate is poised to pass a financial deregulation bill ensuring that when a bank goes out of business, the savings of cryptocurrency owners would be made whole before those of other bank customers.

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[–] [email protected] -1 points 1 week ago (2 children)

Jacobin once again completely misunderstand what it is talking about. A stable coin is not a speculative asset. These are meant to be pegged to the currency they represent (USD, here). This is explicitly talking about the issue of the stable coin, not the holding entity. Why would these banks be issuing their own versions of stable coins, when there's already a bunch of them out there?

This has nothing to do with people gambling on memecoins

[–] [email protected] 2 points 1 week ago (1 children)

Why not speculative asset if speculative-asset-shaped?

[–] [email protected] 1 points 1 week ago

It's not speculative...