Bloomberg published an editorial where it foresees the dangers to the traditional financial system with the combination of the cryptocurrency company Tether Limited and the upcoming Donald Trump government in the United States.


The medium highlights that the Trump-Tether duo 'presents several potential issues' and that two, in particular, stand out.
First, the larger Tether grows, assumes risks, and connects with Wall Street firms like Cantor Fitzgerald, the financial company of Hotward Lutnick, the future Secretary of Commerce of the US; the higher the possibility that 'crises in cryptocurrencies infect the overall financial system'.
Second, Bloomberg suggests that the interconnection between both ecosystems could facilitate the transmission of instability from the cryptocurrency market to conventional financial institutions, complicating global financial stability.
The publishing company believes that a "resurgent Tether" could expand opportunities for illicit activity, "undermining the ability of governments to fight crime, counter terrorism, and enforce sanctions."
EL1.79%
TRUMP1.98%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)