"People often conjecture that cryptocurrencies like bitcoin may replace the U.S. dollar as the world's reserve currency," said at an event Thursday in the Bahamas. But he noted that most DeFi trading uses stablecoins, and 99% of the market value of those tokens is tied to the value of the dollar. "So it is likely that any expansion of trading in the DeFi world will simply strengthen the dominant role of the dollar."
"Recent developments that some have warned could threaten that status have, if anything, strengthened it, at least so far," he said.
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