Mags
24 posts
I still don't understand why people are so desperate and fretting every day about the price of XRP when you know that an institution like the DTCC is going to move its entire volume ($3.8 quadrillion) to efficient blockchains like the XRP Ledger, and that even if it captures just a small percentage 5-10% the return on investment is going to be massive.
New: The White House wanted a deal on stablecoin yield done by this weekend. Will that happen? No, a banking source with direct involvement tells me. "Patrick Witt made the unfortunate error of going out to the press and saying he'd get this done before March. It's not going to get done before March," the source said. The crypto and bank lobbies are still far apart on the issue of yield, which is holding up a crypto market structure bill. "Is there language circulating? Yes. Is the language close? No," the source said. "We're not close to a bill." "I think that there's a very real likelihood that this thing falls apart unless Brian Armstrong comes to the table," the source added, referring to the Coinbase CEO, who has been adamant that stablecoins can generate yield for users. The source emphasized that the banks want a deal here, but figure chances of passage could drop to near-zero in the next month.
New: The White House wanted a deal on stablecoin yield done by this weekend. Will that happen? No, a banking source with direct involvement tells me. "Patrick Witt made the unfortunate error of going out to the press and saying he'd get this done before March. It's not going to get done before March," the source said. The crypto and bank lobbies are still far apart on the issue of yield, which is holding up a crypto market structure bill. "Is there language circulating? Yes. Is the language close? No," the source said. "We're not close to a bill." "I think that there's a very real likelihood that this thing falls apart unless Brian Armstrong comes to the table," the source added, referring to the Coinbase CEO, who has been adamant that stablecoins can generate yield for users. The source emphasized that the banks want a deal here, but figure chances of passage could drop to near-zero in the next month.
