Crypto Reads

• Parting thoughts from departing Comptroller of the currency, Brian Brooks:

“…prepare banks and bank supervisors for decentralization. In the 1990s, we learned decentralized networks are cheaper, faster, and more resilient than centrally managed institutions. That is why we use email more than stamps today. Blockchain, cryptocurrencies, and decentralized finance are doing to banks what email did to the post office. Our job is to rethink the role of banks.”

• Grayscale 10X’ing assets under management in the course of 2020, from $2 billion to $20 billion, (further up to $27.7 billion so far this year)
• Consequently and unsurprisingly Grayscale is buying vast amounts of Bitcoin.
• Future revolutions will be financed in Crypto.
• Madame Lagarde wants a global layer of regulation for Bitcoin.: “In embracing a centralized digital currency, the ECB is fundamentally missing the democratic nature of the discourse of bitcoin and the way decisions are made in a a decentralized and incentive-balanced way.“
• Fed Chair Jerome Powell saying financial risks posed by stablecoins a “high-level focus” for central bank.
• Gemini going public?