@VinnyLingham@xash If it’s not backed by treasuries than it won’t be GENIUS act compliant. The website says nothing about reserve guarantees, bankruptcy protection, redemption rights, disclosures/audits, data privacy, etc…
The tBTC x Starknet Campaign is now live on Galxe!
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@austincampbell@business The point you made about banks’ business model of “lending money to real estate billionaires at below market rates in a loop to lever up 10x”—if stablecoins begin meaningfully disintermediating banks, wouldn’t a fallout be the (probably disorderly) unwind of those RE loans?
@amandalfischer Your point about a Tether loophole doesn’t make sense. You can’t stop Tether (or any other crypto) from being used in a truly decentralized app.
@BSVonly@dbrin62@Power86Vince He was trolling hard for sure. You shouldn’t be able to throw someone in jail just for that. Prove something more substantive and go after him for that. This isn’t it.
@BSVonly@dbrin62@Power86Vince There isn’t enough there to prove intent. The number 86 is slang and can mean murder or just to stop or put an end to something. Putting someone in jail *solely* based on the interpretation of a slang word is way too much imho.
@wmhuo168 If all that is true why did they do it? They even allowed Tesla to own the entire factory rather than being operated as a joint venture. Why did Tesla get that treatment versus other foreign companies?
@flywheel25@austincampbell Stop obfuscating things. The banks are generating yield from “core deposits”. The problem is how much of that yield they share with their depositors and whether they should have to compete with stablecoin issuers who are willing to share more of that yield.
@sergey_nog Ah no. As much as I dislike Warren for her Crypto Derangement Syndrome, it wasn’t her. It’ll surprise you (or maybe not) who it probably was…
https://t.co/nEQgl6kVs8
@intangiblecoins@AndyKatz16 Hawley and Paul voted Nay. Hawley fears big tech issuing stablecoins and Paul fears over-regulation. It isn't completely black and white, R's versus D's.