Crypto Firms Disrupt Traditional Banking Models, Scaramucci Warns

Anthony Scaramucci, founder of SkyBridge Capital, has spoken about the disruption caused by crypto firms like Coinbase and Tether to traditional banking models.

In an interview with Anthony Pompliano's podcast, Scaramucci compared traditional banks to 'cab companies', implying that they are being disrupted by new technologies. He highlighted the growth of stablecoins, which are meant to stay pegged to the US dollar while moving on blockchain rails.

Scaramucci suggested that banks can either adapt to these new systems and improve their functionality or use lobbying efforts in Washington to slow down their growth. He pointed out that efforts to influence stablecoin regulation could shape how digital asset firms compete with traditional financial institutions.