Destabilize

Jon Cunliffe, Deputy Governor of the Bank of England, recently argued why he thinks cryptocurrencies could cause a financial crisis. He compares it to the dot-com bubble and especially to the 2008 market collapse. Crypto Weaves Itself into Financial Markets As reported by Bloomberg, Cunliffe's primary concern is that cryptocurrency has been interwoven into the financial system. As he points out, central banks are now offering crypto custody services to their clients. Furthermore, hundreds of specialist crypto hedge funds are…