Former US Secretary of the Treasury Larry Summers said in an interview with Bloomberg that the idea of a national Bitcoin (BTC) reserve is “crazy. “
Summers said he understands the concept of other commodities’ reserves, such as oil and gold, but argued:
“Of all the prices to support, why would the government choose to support by accumulating a sterile inventory, a bunch of Bitcoin? There...
Coinbase chief legal officer Paul Grewal has disclosed letters from the Federal Deposit Insurance Corporation (FDIC) to banks throughout 2022, urging them to halt or avoid crypto-related activities.
The letters, which date back to March 11, 2022, have been dubbed “pause letters” due to their repeated recommendations to suspend or refrain from engaging in crypto services.
FDIC concerns
The FDIC letters cited various concerns, including the agency’s...
