‘Deeply Concerned’—Fed Issues Serious $120 Billion Crypto Warning As Price ‘Death Cross’ Looms For Bitcoin And Ethereum

A top Federal Reserve official, Michael Barr, has warned he’s "deeply concerned" about the $120 billion stablecoin market that’s exploded over the last few years…

Highlights

• Bitcoin, ethereum and other major cryptocurrencies are stuck in a doom loop.
• Visa dropped a crypto bombshell this week, while Binance’s CEO has issued a hack warning.
• Bitcoin price has dropped back to where it was before BlackRock’s BLK landmark spot bitcoin exchange-traded fund (ETF) filing.
• Federal Reserve official, Michael Barr, has warned he’s “deeply concerned” about the $120 billion stablecoin market that’s exploded over the last few years.
• U.S.
• lawmakers are scrambling to pass regulation governing stablecoins and keep up with regions in Europe and Asia, with Democrats and Republicans in the House financial services committee battling over how much autonomy state regulators should have.

---

Read the original article