Wu Blockchain (@WuBlockchain): Geoffrey Kendrick: Why the Federal Reserve Believes Stablecoins Are Safer Than Banks

Geoffrey Kendrick: Why the Federal Reserve Believes Stablecoins Are Safer Than Banks On February 27, Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, said in an interview with the Deribit channel that Bitcoin's rise from $45,000 to $126,000 was driven by spot ETFs and the inflow of traditional capital. He drew a parallel to stablecoins, arguing that the 100% asset reserve requirement under the "GENIUS Act" - mainly backed by U.S. Treasuries - makes them safer than bank deposits and effectively a form of "narrow banking." Citing a Federal Reserve report, he noted that in extreme scenarios such stablecoins could even be safer than U.S. banks. David added that if large-scale stablecoin redemptions trigger heavy Treasury selling, it could force the Fed to step in to support the bond market, amounting to an indirect backstop. Source：https://youtu.be/fmVEX3kuCv0?si=3X6NAdHrME1VmT4v