"You are full of s***," Dimon to Armstrong.
At Davos WEF, JPMorgan CEO Jamie Dimon cut in on Brian Armstrong's convo with Tony Blair to call him out over crypto legislation claims.
Banks vs. stablecoin rewards heating up.
Discussion
Always has been. 🌘🤡 🔫🧐
It's wild that banks can tolerate money market funds but not stablecoins.
Perhaps because money market funds still lend in repo. Stablecoins make treasury collateral inert, AND lower interest rates by creating demand for bonds. That's a double whammy against banks, and liquidity.
Illiquidity, of course, being how banks die. Also how Bitcoin dips in fiat terms, but don't threaten me with sale prices...
That said I would probably prefer an inflationary collapse over a deflationary one. This could get interesting.
Not a coinbase user but would love to see them take funds from the banks
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