Bank of America warns major threat could wipe trillions out of US banks
Brian Moynihan issued a grim warning about stablecoins. During a Jan. 15 earnings call, Bank of America’s CEO told analysts that as much as $6 trillion in deposits could migrate out of the U.S. banking system into stable currencies, about 30 percent to 35 percent of all U.S. commercial bank deposits. Moynihan attributed the projection … Read more
