“Brothers, Wall Street bosses can’t sit still! JPMorgan Chase, Bank of America, these old money giants, are actually teaming up to issue an ‘official stablecoin’! Are they trying to rob money or give it away? Can retail investors get in on the action?”

What's going on? Bank bosses are going to "copy homework"!

Last night (The Wall Street Journal) broke a bombshell: Top banks such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo secretly held a meeting to discuss jointly issuing stablecoins!
(Translated into adult language: The banks that used to call Bitcoin a scam are now trying to get into the cryptocurrency world themselves!)

Let me give you an example:
This is like McDonald's criticizing KFC for being unpalatable, while secretly learning how to make fried chicken! These banks may say they dislike cryptocurrencies, but their bodies are honest - after all, USDT earns billions in fees a year, who wouldn't be jealous?

Opportunity to get rich quickly? 3 points that may help you turn things around

“Official stablecoin” is more reliable:
The companies behind the USDT and USDC we are using now may go bankrupt (refer to the FTX incident). However, the stablecoins issued by banks such as JPMorgan Chase are directly backed by US dollar deposits and government bonds, which is equivalent to the "Alipay version of the US dollar" and is extremely safe!

Fee Wars:
Once banks enter the market, they will definitely compete with USDT for the market! Transfer fees may drop to near zero, and cross-border remittances will no longer be ripped off by Western Union!

Bringing Bitcoin:
Banks issuing stablecoins are equivalent to implicitly recognizing the legitimacy of cryptocurrencies. More traditional funds may rush into the cryptocurrency circle, and Bitcoin reaching $200,000 is not a dream!

But wait! Banks are not here for charity…

Deep pit warning! Banks are cutting leeks even more ruthlessly

If you are choking:
Using the bank's stablecoin, every transfer may be censored! Do you buy a membership on the SeSe website? The bank will know in seconds!

Freeze your money if you want:
Refer to the Canadian truck driver incident, the government can freeze your account with just one word. Switch to their stablecoin? It will turn into a "digital cage" in minutes!

Grab the Defi cake:
Now you can earn high interest by playing Defi (decentralized finance), but when bank stablecoins come into the market, the interest rate may be reduced to less than 1%, and miners and pledgers will all be out of luck!

What should retail investors do? 3 life-saving guidelines

Hoarding Bitcoin:
Bank stablecoins are good for Bitcoin, hold on to the spot and don’t get off!

Don't touch bank coins:
Unless you want the bank to know where you spend every penny, continue to use USDT and USDC!

Ambush Defi Tokens:
If bankcoin is really launched, hurry up and buy Defi coins such as AAVE and COMP, and bet that they will compete with banks for the market!

Tell the truth

To put it bluntly, these banks are developing stablecoins with the intention of “if you can’t beat them, join them and take control at the same time!”

For them: collect fees, monitor everyone, squeeze Defi to death, and make a profit without loss;

For retail investors: It seems safer, but in fact they lose their freedom and have to pay transaction fees!

My attitude:
I would rather hoard Bitcoin as digital gold than exchange my hard-earned money for “bank surveillance coins”!

Soul torture:
Would you use the stablecoin issued by JPMorgan?

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