Senator Warren says banks have done really bad jobs advocates for CBDCs instead of Bitcoin

U.S. lawmaker Senator Elizabeth Warren conceded that banks “have done a really bad job” while advocating for central bank digital currencies (CBDCs) because the government backs them. In a March 31 NBC Meet The Press interview, Warren highlighted several banking industry issues — including high transaction fees, lack of speed, and lack of transparency. However, she believes the problems in the banking industry would be solved with a CBDC and not Bitcoin (BTC). According to her, CBDCs are government-backed digital transfers that could be denominated in national fiat currencies — while Bitcoin is an “ephemeral token” with no value. Warren…