Bank of America’s Plan Could Shut Down Coinbase and Tether Stablecoins
With a staggering $284 billion in its coffers, this financial behemoth is not acting alone. Nay, it has enlisted the help of esteemed organizations such as the American Bankers Association and the Bank Policy Institute, as reported by the ever-watchful The Block. Together, they embark on a mission to birth a new digital currency, the “Bank of America coin,” fully reserved and backed 1:1, as if they were crafting a fine wine rather than a mere token.