How Bank CEOs Focus on the Sustainability and Impact of the Instability of Terra and GYEN Stablecoins – Tearsheet
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How bank CEOs focus on sustainability, in 4 charts
Banking and financial market CEOs are increasingly responding to external pressures and have begun to recognize the value of sustainability in their operations to drive business performance. However, they don’t prioritize sustainability as much as their peers in other industries.
Many executives point to pressure from board members and investors, as well as customers, to accelerate the process toward net-zero operations.
But the path to sustainability is unclear – many executives reported that there are still many uncertainties about the bottom line benefits, making it difficult to determine which strategy would be best, according to an IBM study.
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Seems unstable: Fluctuations in stablecoins Terra and GYEN wipe out billions
Coinbase customers recently filed a complaint against the company for the alleged loss of billions of dollars due to their role in promoting and trading the stablecoin GYEN. According to the lawsuit, GYEN was promoted by Coinbase and stablecoin issuer GMO-Z as a 1:1 peg to the Japanese yen, despite its vulnerability to breakout. When the peg broke shortly after trading began, several investors bought GYEN assuming a 1:1 peg, when in fact the stablecoin had become several times more expensive.
We take a look at the instability of some stablecoins and its impact on the market.
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Just look at the charts
1. Growth in B2B card spending
Source: Marcel van Oost
2. JP Morgan presented its plan to increase spending on technology and fintech products
Source: Spiros Margaris
today’s stories
JP Morgan’s technology and product investments will ramp up in 2022
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