Former Coinbase executive Balaji Srinivasan isn\u2019t a fan of the U.S. Federal Reserve.<\/p>\n
Srinivasan says<\/a> on the social media platform X that the Fed represents \u201cunpredictable monetary policy,\u201d compared to Bitcoin (BTC<\/a>), which he says<\/a> is \u201cpredictable monetary policy.\u201d<\/p>\n \u201cIf you made the graph of Bitcoin\u2019s predicted issuance versus its actual issuance over the last 15 years, they would be exactly superimposed.<\/em><\/p>\n This predictability is as crucial as the scarcity of the currency itself.\u201d<\/em><\/p>\n The former Coinbase chief technology officer says<\/a> the Fed plagues the markets with risk.<\/p>\n \u201cThat is: all the unpredictability and volatility comes from the Fed committee. They just pick rates out of a hat based on months-old data and political incentives.\u201d<\/em><\/p>\n Some elected US politicians are also wary of the Fed and want to limit the central bank\u2019s power. Last week, the House of Representatives passed<\/a> a bill that would prevent the Fed from launching a central bank digital currency (CBDC) without Congressional authorization.<\/p>\n Republican Majority Whip Tom Emmer\u00a0sponsored<\/a>\u00a0H.R. 5403,\u00a0known as<\/a> the CBDC Anti-Surveillance State Act.<\/p>\n Emmer says he wants to protect Americans\u2019 right to privacy.<\/p>\n \u201cMy legislation ensures that the United States\u2019 digital currency policy remains in the hands of the American people so that any development of digital money reflects our values of privacy, individual sovereignty, and free market competitiveness.<\/em><\/p>\n This is what the future global digital economy needs. We are proud to have led this effort and thank my colleagues for their support.\u201d<\/em><\/p>\n In March, Fed Chair Jerome Powell said<\/a> the agency was \u201cnowhere near\u201d recommending or adopting a CBDC.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE-3<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Former Coinbase executive Balaji Srinivasan isn\u2019t a fan of the U.S. Federal Reserve. Srinivasan says on the social media platform X that the Fed represents \u201cunpredictable monetary policy,\u201d compared to Bitcoin (BTC), which he says is \u201cpredictable monetary policy.\u201d \u201cIf you made the graph of Bitcoin\u2019s predicted issuance versus its actual issuance over the last […]<\/p>\n","protected":false},"author":2,"featured_media":312256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-312253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=312253"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312253\/revisions"}],"predecessor-version":[{"id":312259,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312253\/revisions\/312259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/312256"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=312253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=312253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=312253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n
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