cit. 29. For instance, Visa had announced in October 2022 that FTX-branded Visa debit cards would be linked directly to a user’s FTX account to enable card holders to use cryptos to fund purchases at merchants. This agreement with FTX has since been terminated and the debit card programme is being wound down. 30.
See Cecchetti, S. and Schoenholtz, K. (2022), “Let crypto burn”, Financial Times, 17 November. The authors call for not even bringing cryptos under a regulatory framework to avoid the perception of any public support in a stress event, like a run on a crypto provider, such as FTX. 31.