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US Will Not Race China to Develop a CBDC: Fed Chairman Powell
The U.S. is biding its time to see whether a CBDC was something that would be a "good thing for the people," Powell said Wednesday.
China's rush to develop its digital yuan will not push the U.S. into a digital currency race, the Federal Reserve's chairman repeated on Wednesday.
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Speaking after the Fed's latest policy meeting, Jerome Powell reiterated previous statements that it was better to "get it right" than be first when it comes to a developing a central bank digital currency (CBDC). Powell was adamant that China's approach was not the one the U.S. should be taking.
“Far more important to get it right than it is to do it fast,” said Powell. “The currency that's being used in China is not one that would work here. It’s one that really allows the government to see every payment for which it is used in real time.”
Instead, the U.S. is biding its time to see whether a CBDC is something that would be a "good thing for the people that we serve" and ensure it is the right fit for those who rely on the dollar, said Powell.
China has been developing its CBDC with notable success, having completed various trials in an open lottery system gifting thousands of participants the opportunity to shop and experiment with the digital yuan.
See also: Ant Group Has Been Working With China’s Central Bank on Its CBDC Since 2017: Report
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L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
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2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
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Dogecoin breaks short-term support, eyes lower demand zone
Trading volume surged to 721 million tokens, indicating active repositioning rather than thin price movement.
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- Dogecoin fell 1.8% as sellers regained control, with price drifting toward the lower end of its recent range.
- Trading volume surged to 721 million tokens, indicating active repositioning rather than thin price movement.
- DOGE lost support near $0.1320, confirming a bearish short-term bias as it failed to sustain gains above $0.135.
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