Babylon cofounder: rising rates will wake idle Bitcoin
BTC when published $81,246Now $80,405 ▼ −1.04% since it was published
Most Bitcoin holders buy, move their coins into a cold wallet, and never touch them again. Fisher Yu, co-founder and chief technology officer of Babylon, thinks that habit is about to break. “Bitcoin will become a universal” financial tool, Yu told TheStreet Roundtable at Token2049 in Singapore. He wants Bitcoin to be “not just digital gold but actually productive.” Related: Analysts lift gold 58 places higher amid central bank purchases Every major exchange but Coinbase Babylon has achieved significant scale over the last several years. Babylon says its protocol has activated more than $10 billion in Bitcoin since launching in August 2024, driven by partnerships with major crypto exchanges. Binance and Kraken both offer Babylon staking on their platforms.
First reported by TheStreet. This page is a short excerpt; the full text is theirs.
