Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, the outgoing chair of the Financial Stability Board (FSB) sounded the alarm on the systemic risks posed by crypto’s deepening integration with traditional finance, or TradFi. Bitcoin bullishness has returned on social media after several recent retests close to its all-time high. Meanwhile, US stablecoin legislation moves closer to a Senate vote.
The FSB is sounding the alarm on growing risks from the crypto sector, warning that interlinkages with traditional finance are nearing a critical threshold.
Speaking in Madrid on Thursday, outgoing FSB Chair Klaas Knot said that while crypto does not yet pose a systemic risk to traditional finance, that status may not last much longer. “We may be approaching a tipping point here,” he said.
