White House Crypto Adviser Urges Banks Not to Panic Over Stablecoin Yields
White House Crypto Adviser Urges Banks Not to Panic Over Stablecoin Yields
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A senior White House crypto adviser, Patrick Witt, has advised banks against viewing stablecoin yield programs as an existential threat. Witt suggested that both traditional banks and crypto firms can coexist and offer similar financial products to customers.
Patrick Witt, a senior White House crypto adviser, told reporters that banks should not see stablecoin yield programs as an existential threat. He argued that banks and crypto firms can both offer similar products to customers and that the controversy over these programs is manageable.