Interesting thing: a top global financial institution is dissing decentralized finance as a "scam" in the media, while secretly launching its own "on-chain dollar." Is this truly disdain, or are they just terrified?
Looking at it from another angle—back in the day, carriage manufacturers criticized automobiles, not because of the cars themselves, but because cars threatened their livelihoods.
This institution controls the dollar settlement system, manages $3 trillion in assets, sets rules, and earns passive income. The Federal Reserve has to negotiate with it. But when Bitcoin appeared, the game changed: decentralization means bypassing banks and intermediaries, global payments no longer rely on the dollar clearing network, and code replaces credit—causing a real dimensionality reduction for the century-old banking system.
The most ironic part: Once a major backer of the crypto market, they immediately "turn hostile" when regulation blows in; The CEO calls Bitcoin "rat poison" while praising it as a "smart design"; The more vicious their public criticism, the more aggressively their internal blockchain recruitment.
This isn’t just disdain—it's fear. Fear of revolution, fear of being abandoned by the market.
So they are eager to develop their own on-chain dollar, with a clear logic: "Since decentralization is the future, it must be controlled by us!" The problem is, when everyone can issue tokens and keep accounts, how long can the traditional financial intermediaries maintain their advantage?
Core question: Can the on-chain dollar continue its dominance, or will it ultimately be rewritten by the wave of decentralization? What do you all think?
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SolidityJester
· 6h ago
They really think they can cover everything with a single hand, still want to control the future game rules, hilarious, the code doesn't listen to them.
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NftBankruptcyClub
· 6h ago
Haha, the classic "if you can't beat them, join them" — Wall Street finally backed down.
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Basically, they're afraid of being replaced, so they have to control the narrative themselves. Old tricks.
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That analogy of the carriage manufacturer was perfect. Now it's just a matter of who can survive until the end.
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On-chain USD? Still the same old story, just a new coat of paint on centralized stuff.
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This time, banks are really panicking. Money invested must yield returns.
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Ironically, publicly dissing while secretly going all-in — a perfect double-faced persona.
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Decentralization ultimately gets swallowed by centralized forces — that's the reality.
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Instead of trying to create an on-chain USD, why not just embrace Bitcoin? No need for hypocrisy.
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3 trillion in market cap? What's there to fear? Unless crypto can truly replace USD settlement.
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Code is always more convincing than credit — they know this very well.
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LiquidatedNotStirred
· 6h ago
Basically, it's just fear. They talk tough but still have to build their own chain. How long can this act last?
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HashRateHermit
· 6h ago
Haha, Wall Street's move is indeed brilliant. They curse decentralization as a scam on their lips, but then turn around and want to play with on-chain USD. Isn't this a classic case of "I hate it, so I’ll do it myself"?
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NoodlesOrTokens
· 6h ago
Haha, this is classic traditional finance stubbornness.
They say Bitcoin is a scammer, but secretly accumulate coins behind the scenes—criticizing while learning.
The good days of centralization are coming to an end; code is the ultimate trust.
#贵金属黄金与白银刷新历史高位 Wall Street Drama: From Criticizing Bitcoin to Building Their Own Chain $BTC $SOL $AXS
Interesting thing: a top global financial institution is dissing decentralized finance as a "scam" in the media, while secretly launching its own "on-chain dollar." Is this truly disdain, or are they just terrified?
Looking at it from another angle—back in the day, carriage manufacturers criticized automobiles, not because of the cars themselves, but because cars threatened their livelihoods.
This institution controls the dollar settlement system, manages $3 trillion in assets, sets rules, and earns passive income. The Federal Reserve has to negotiate with it. But when Bitcoin appeared, the game changed: decentralization means bypassing banks and intermediaries, global payments no longer rely on the dollar clearing network, and code replaces credit—causing a real dimensionality reduction for the century-old banking system.
The most ironic part:
Once a major backer of the crypto market, they immediately "turn hostile" when regulation blows in;
The CEO calls Bitcoin "rat poison" while praising it as a "smart design";
The more vicious their public criticism, the more aggressively their internal blockchain recruitment.
This isn’t just disdain—it's fear. Fear of revolution, fear of being abandoned by the market.
So they are eager to develop their own on-chain dollar, with a clear logic: "Since decentralization is the future, it must be controlled by us!" The problem is, when everyone can issue tokens and keep accounts, how long can the traditional financial intermediaries maintain their advantage?
Core question: Can the on-chain dollar continue its dominance, or will it ultimately be rewritten by the wave of decentralization? What do you all think?