Cryptogeddon: a user’s guide for central banks
How might monetary authorities react if a digital asset crash destabilised the financial system?
Since the first bitcoins were minted in the wake of the great financial crisis, there have been persistent reports of the crypto asset market’s impending death – only for the reports to prove greatly exaggerated. During the crypto crash of 2022, the industry lost an estimated 70% of its notional value within the space of six months. Yet it has since rebounded, aided in no small part by a US administration that has gone ‘all in’ on the sector.
Donald Trump’s embrace of all things crypto and his
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