As Bitcoin attempts to gain back its record highs, some traders are panicking over the future of the U.S. dollar.
As the Federal Reserve focuses on crypto legislation, bank deposits may succumb to mass withdrawals of deposits.
“If you take out deposits, they’re either not going to be able to loan or they’re going to have to get wholesale funding, and that Wholesale funding will come at a cost,” Brian Moynihan said as CEO of Bank of America.
The crypto market structure bill is seen to offer interest yields on stablecoin deposits which the tradition banking industry fears.
READ MORE….at Bank Of America CEO Issues Serious $6 Trillion Crypto Warning As Bitcoin Surges Toward $100,000 Price
