So, Jerome Powell—yes, that Fed guy who apparently controls the money universe—has decided to grace us with the revelation that crypto is “going mainstream.” No, really. Apparently, it’s all thanks to lawmakers wrestling over how to slap some rules on stablecoins, which he casually mentioned while trying to sound optimistic.
Congress (aka the Senate & House soap opera) is busy trying to whip up a legal framework for these stablecoins. Powell’s take? “Depending on what’s in it, that’s a good idea. We need that. There isn’t one now.” Translation: omg, we should have done this ages ago, huh?
He also reckons that stablecoins might have a “fairly wide appeal.” In other words, they might catch on, unlike your cousin’s “groundbreaking” NFT project that’s still collecting virtual dust.
Oh, and in case you’re wondering, Powell once said Bitcoin is basically digital gold. Because nothing screams “safe investment” quite like something digital, volatile, and mined by mysterious computer wizards.
Powell’s been the head honcho of the world’s most powerful bank since 2018, steering the ship through storms you and I won’t even pretend to understand. Meanwhile, the New York Post spills the tea that his replacement candidates will get grilled come fall. Fingers crossed we get someone who actually gets memes.
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2025-04-16 23:45