JPMorgan estimates stablecoin operator would be one of the largest investors in the US market

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    • #428771
      Cold Mountain Trail
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      • Total Posts: 12,892

      Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
      https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a

       

      I can’t figure out how to ‘share’ this article legally, don’t see any such buttons so I’ll just link & summarize a few pp. and you can read if interested.  I think it may be important.

       

      There’s a cryptocurrency (provider?) called ‘Tether’.  Turns out to be one of the biggest investors in US commercial paper:

      “Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of rarely more than 270 days. In layperson terms, it is like an “IOU” but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the creditworthiness of the issuing company.”

      https://en.wikipedia.org/wiki/Commercial_paper

       

      But: the article seems to say that people/entities who should have known this dominance was happening, didn’t know it was.  Like, it was a big surprise.

       

      Smells dirty & dangerous, something wicked this way comes…

       

       

    • #428898
      eridani
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      • Total Posts: 8,940

      No one has been able to tell me how I can change it into quarters to use at the laundromat.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

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