Federal Reserve Board: Recent Market Turmoil Shows ‘Structural Fragilities’ of Crypto

The Federal Reserve Board has released its twice-yearly monetary policy report, noting that"recent strains experienced in markets for stablecoins…and other digital assets have highlighted the structural fragilities in that rapidly growing sector."

The report is a preview of Fed Chair Jerome Powell's testimony in Congress next week. Powell is expected to outline the Fed's plans to combat inflation.

According to the report,"these vulnerabilities may be exacerbated by a lack of transparency regarding the riskiness and liquidity of assets backing stablecoins." The report added that the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency have all made recommendations to address prudential risks posed by stablecoins.

federalreserve amitoj The average age of the federal reserve board speaks for itself

federalreserve amitoj Thumbs up! GRSAY

federalreserve amitoj I knew this was going to happen. The recent turmoil in almost every case (LUNA excepted) has nothing to do with structural instabilities in the technology and everything to do with greed, lack of oversight and occasionally, plain old fraud.

federalreserve amitoj Solution: turn on the printer.

federalreserve amitoj Meanwhile the fed printing majority of dollars in the last 2 years... 🤡

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federalreserve amitoj Are they looking at every other market?!

federalreserve amitoj The world going into recession... meanwhile many are protecting themselves by buying the new Bitcoin called Safemoon 😂 That's right in SAFEMOON investors win in a bear market as well as in a bull market. SAFEMOONARMY SAFEMOONCOMMUNITY SAFEMOONBLOCKCHAIN TOKENOMICS 😉

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federalreserve amitoj KEEP OUR STABLE COINS OUT OF YOUR FUCKING MOUTH!!

federalreserve amitoj Right, because we absolutely have never seen this in tradFi systems. Nope, never. Meanwhile, they are pushing the whole nation into default with their financial policies.

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federalreserve amitoj This is why we invest in OLDMONEY

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⭐️

federalreserve amitoj The Fed is an unreliable narrator…

federalreserve amitoj Considering that fiat currencies do not have 'structural fragilities' of their own?

federalreserve amitoj Just as they planned?

federalreserve amitoj Digital assets built on an insecure network will cause damage.

👁🦉‍

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