Don’t worry, Gibraltar will never be Spanish
Were it to turn Spanish, it would set off a series of dominoes that could devastate both Spain and Morocco.
SPACES CHAT: Jane Street vs the crypto markets
Below is an AI-assisted summary of today’s wide-ranging Spaces chat on the implications of the Terraform Labs lawsuit against Jane Street, and broader peg-based systems.
Industry warns UK risks digital dollarisation without stablecoin reform
Fintech leaders told MPs that unless the U.K. backs a competitive sterling stablecoin regime, dollar-denominated stablecoins could dominate future payments systems.
Too big to flow: financialisation, fragility and the reserve trap
Why shrinking central bank balance sheets is not an option when financialisation quietly drives every incremental unit of GDP.
Commerzbank warned ECB officials intervention is necessary to cultivate euro-stablecoins
A bank industry briefing to ECB officials in November last year warned that euro stablecoins may struggle to scale without central bank support.
OPINION: Artificial intelligence risks dumb outcomes unless politicians act now
Legally obligating companies to grant displaced workers equity equal to a year’s salary would spread AI’s windfall, without resorting to UBI.
Terra lawsuit frames collapse as a targeted currency attack by Jane Street
The legal complaint against Jane Street offers a provocative new interpretation of the Terra Luna collapse, suggesting insider insight — not just structural flaws — may have driven the depeg.
Digital euros and liquidity backstops won’t dent dollar dominance, says Fed’s Miran
European officials may be warming to the idea of using euro stablecoins as a way to challenge the dollar, but Stephen Miran says the greenback isn’t going anywhere.
Fed’s Miran turns hawkish, floats rethink of Fed Funds rate
The Fed’s most ardent dove, Stephen Miran, said he would reverse his December shift toward easier policy if he is still at the Federal Reserve by the March meeting, citing firmer labour data and renewed goods inflation. “If I had no more data in hand right now and had to put a dot down at […]
TRANSCRIPT: Fed Governor Stephen Miran talks rates, stablecoins and AI
In an exclusive interview with the Peg, Stephen Miran outlines his views on inflation, AI labour displacement, balance sheet policy, and much more.