Today news
About the same in other media
'DeFi is the most dangerous part of the crypto world,' says Senator Elizabeth Warren
Reading now: 463
Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance, expressing concern about how a run on stablecoins would affect the average investor.
In a Tuesday hearing with the Senate Banking Committee discussing stablecoins, Warren questioned Professor Hilary J. Allen of the American University Washington College of Law as to whether a run on stablecoins could potentially endanger the U.S. financial system. Though Allen said an “en masse” redemption of stablecoins from people who had lost faith in the tokens would be unlikely to have “systemic consequences” for traditional markets at present, the DeFi system would be more likely to feel the effects.
Warren countered that because stablecoins provided
Read more on cointelegraph.comAbout this in other media
Collateral damage: DeFi’s ticking time bomb cointelegraph.com /2 years ago
Finance Redefined: 83% of 7-figure Millennials own crypto, Sen. Warren criticizes DeFi, Dec. 10–17 cointelegraph.com /2 years ago
Revenue from crypto scams surges 81 percent in 2021, "rug pulls" make for most of it moneycontrol.com /2 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
