Why skinny Is Trending Today?

The Federal Reserve is contemplating the creation of 'skinny' master accounts for cryptocurrency banks, aiming to expedite the process with a streamlined timeline. These accounts, if implemented, could potentially revive the concept of narrow banking. However, former BitMEX CEO Arthur Hayes has raised concerns, warning that the Fed's 'skinny' account proposal could potentially destabilize the U.S. banking system.

The Federal Reserve is exploring the creation of 'skinny' master accounts, a streamlined version of traditional accounts, for crypto banks and fintech companies. This proposal, championed by Fed Governor Waller, aims to open up payment rails to these innovators, potentially redefining crypto's banking future and benefiting projects like Ripple's RLUSD and XRP. The Fed is considering this move on an expedited timeline.