This 12 months’s occasions – culminating lately with the implosion of one of many world crypto giants, FTX – “have revealed that the crypto business threat administration practices are weak, that stablecoins might not be steady, and that contagion threat inside the crypto business is excessive,” stated Hsu, who has been steadily essential of the sector. Combining all of that, he stated, “explains a few of the banks’ postures in direction of crypto.”
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