Whether the Federal Reserve is engaging in quantitative easing is purely semantic, according to Alden, who says all roads lead to debasement.

Chris Dixon, a managing partner at a16z crypto, said that non-financial use cases in crypto will flourish when regulations become clear.

Crypto investor sentiment has fallen to levels last seen during the 2022 Terra-LUNA collapse, as weak prices and volumes weigh on market confidence.

The number of traders expecting a rate cut at the March Federal Open Market Committee meeting rose following fears of a hawkish Fed nominee.

The Commodity Futures Trading Commission (CFTC) revised a previous staff letter to reflect the regulations in the GENIUS stablecoin framework.