Isabella García
Federal Reserve Governor Christopher Waller, widely seen as a frontrunner for the next Fed Chair, has publicly backed Ethereum and stablecoins. Speaking at the Wyoming Blockchain Symposium 2025, Waller urged banks and major financial institutions to embrace cryptocurrencies as the next natural step in payment innovation.
Waller dismissed the idea that digital assets pose unique risks, stressing that smart contracts, tokenization, and distributed ledgers are simply modern tools for recording transactions. He compared current skepticism toward crypto to the early doubts surrounding credit cards decades ago, noting that every payment system faces resistance before gaining mainstream acceptance.
Stablecoins Strengthening the Dollar
Among digital assets, Waller highlighted stablecoins as especially promising because of their:
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Dollar peg for price stability
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Instant transfer capability
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Potential to expand global access to the US dollar
He argued that stablecoins could reinforce the dollar’s position as the world’s reserve currency, particularly in regions with fragile financial systems.
The Regulatory Path Forward
Waller also praised the GENIUS Act, describing it as a crucial framework for removing regulatory uncertainty for stablecoin issuers. By providing clear rules, he suggested, stablecoins could safely integrate into the traditional banking system.
On-Chain Signals Reflect Confidence
At the same time, on-chain data reveals that whales have withdrawn a net 628,000 ETH from exchanges, signaling increased confidence and long-term accumulation among major investors.
