U.S. banking industry strongly opposes Kraken's access to the Federal Reserve, Trump angrily accuses of obstructing crypto agenda
Cryptocurrency exchange Kraken becomes the first company to hold a main account with the U.S. Federal Reserve, allowing direct settlement of USD transactions. However, this has sparked strong opposition from the banking industry, which is concerned about potential threats to financial stability. Stablecoins could lead to a $6.6 trillion outflow of deposits, affecting lending costs. Trump supports the crypto agenda, accusing banks of obstructing legislation, indicating his political stance and vested interests.
MarketWhisper·03-05 02:22
