#AirdropSafetyGuide The development of cryptocurrencies in the USA will destroy the global financial system. The Bank of Italy noted that by the end of March, the total capitalization of the cryptocurrency market reached $2.75 trillion, with Bitcoin accounting for more than 60% of this amount. Now, not only retail investors are investing in cryptocurrency. A significant portion of Bitcoins belongs to companies that have launched cryptocurrency exchange-traded funds (ETFs), trading platforms, and non-financial corporations. These organizations can use Bitcoin to boost stock prices or to change their business models, despite the high volatility of cryptocurrency.

The Italian central bank also expressed concerns about the dominance of dollar-backed stablecoins issued by Tether (USDT) and Circle (USDC). Their issuers heavily rely on U.S. government bonds used as reserves. If these stablecoins become firmly embedded in the financial system, it will trigger market instability during redemption crises. A potential large-scale collapse of stablecoins will cause side effects that will affect both the U.S. bond markets and the entire global economy, the Bank of Italy warned.