Project Hamilton Turns from CBDCs to Short-Term Treasuries and Stablecoins?

Permissionless 2022 with Eric Peters

From the start of the fireside chat at last week’s Permissionless conference, red-pilled One River Asset Management founder and CIO Eric Peters delighted the decentralized finance throngs with one good story after another.

Anecdotes ranging from his firm’s $600 million of Bitcoin and Ethereum purchases via Coinbase in 2020 to cold-calling outgoing SEC Chair Jay Clayton the day after he left the commission in order to bring him aboard as a key advisor did not disappoint.

But, perhaps most revelatory was the closing anecdote raised by moderator Brett Tejpaul of Coinbase around his and Peters involvement in Project Hamilton – a Central Bank Digital Currency (CBDC) research project with huge implications for the U.S. dollar, the world’s reserve currency and arguably the most important source of American power worldwide.

Project Hamilton, named after Alexander Hamilton and Margaret Hamilton, may have special focus around a CBDC for the United States financial system, but Tejpaul said there was a “group” of people who are trying to convince the Treasury to go in a new direction using privatized stablecoins rather than a CBDC.

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