bankingwars

In the world of financial technologies, a new conflict is brewing: traditional banks are increasing pressure on the crypto industry, striving to maintain their monopoly. Kraken's CEO David Ripley recently sharply criticized the American Bankers Association (ABA), accusing it of attempts to "corner the crypto exchanges." It all started with a statement from ABA's Senior Vice President Brooke Ibarra at the annual conference: she called interest payments on stablecoins on platforms like Kraken and Coinbase "harmful" to banks, undermining their role in supporting communities. According to her, stablecoins are intended only for payments, not for storing value.