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CFTC Pham: Called stablecoins “the killer app for collateral management”
CFTC Acting Chairman Caroline Pham laid out one of the clearest visions yet for how tokenized collateral can strengthen the U.S. financial system.
— Chris Barrett ⬡ cbone
She reminded the audience that the entire financial system runs on U.S. Treasuries and that after years of post-crisis capital… https://t.co/6TmgFzLfAO
(@ChrisBarrett) November 12, 2025
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