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Cash Is Flowing From Stablecoins to Treasuries, Circle CEO Says

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Cash is flowing out of stablecoins into assets like US Treasuries, the CEO of Circle Internet Financial says

Investment is flowing out of stablecoins into assets like US Treasuries in response to prevailing macroeconomic conditions, according toRising interest rates have led

institutions to rethink how much exposure they want to crypto and instead purchase lower-risk assets like US government bonds or money-market instruments, Allaire said in an interview Friday.

 

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US Treasuries = The new DeFi 😂

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Circle Begins Putting Reserves Into New BlackRock FundUPDATE: The ultimate goal is for BlackRock to put its new Circle fund with the federalreserve, says Circle CFO jfg_circle. jesseahamilton reports federalreserve circle jfg_circle jesseahamilton 🚀Thnkss a millon federalreserve circle jfg_circle jesseahamilton AbrahamNoubani_ hmm federalreserve circle jfg_circle jesseahamilton So surprising that BlackRock works for bankers... who would have thought they had tentacles like that? eye roll.
Source: CoinDesk - 🏆 291. / 63 Read more »