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BOE's Bailey, Western Union CEO Part of Davos Panel on Digital Currencies

The session will focus on the diminishing role of cash and the emergence of central bank digital currencies, moves accelerated by the pandemic.

Updated Sep 14, 2021, 11:00 a.m. Published Jan 24, 2021, 9:02 p.m.
Bank of England Chief Andrew Bailey
Bank of England Chief Andrew Bailey

Bank of England Governor Andrew Bailey and Western Union CEO Hikmet Ersek will be part of a World Economic Forum (WEF) panel discussion entitled “Resetting Digital Currencies” set for Jan. 25, the first day of the virtual Davos summit.

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  • The session will focus on the diminishing role of cash and the emergence of central bank digital currencies (CBDCs), moves accelerated by the pandemic.
  • The other panelists are Sheila Warren, head of Blockchain and Data Policy at the WEF; BTC Africa S.A. CEO Elizabeth Rossiello; and North Island Ventures CEO Glenn H. Hutchins.
  • On Thursday, a second "Resetting Digital Currencies" panel discussion will be held. That one will feature Michael Casey, chief content officer for CoinDesk (this news organization); Tharman Shanmugaratnam, senior minister, Government of Singapore; Sara Pantuliano, chief executive, Overseas Development Institute; and Zhu Min, National Institute of Financial Research.

Read more: Notes From the WEF: Cash Is Dead, Long Live Digital Cash

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KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

알아야 할 것:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

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Here's what bitcoin bulls are saying as price remains stuck during global rally

Here's what bitcoin bulls are saying as price remains stuck during global rally

It's about a lot more than "zooming out." Supply overhangs and investor "muscle memory" regarding gold help explain bitcoin's poor absolute and relative performance.

알아야 할 것:

  • Bitcoin has failed so far to act as an inflation hedge or safe-haven asset, lagging badly behind gold, which has surged amid high inflation, wars, and interest rate uncertainty.
  • Crypto advocates argue that bitcoin’s weakness reflects a temporary supply overhang, investor “muscle memory” favoring familiar precious metals and its correlation with risk assets, rather than a collapse in long-term demand.
  • Many bitcoin proponents still see BTC as a superior long-term store of value and “digital gold,” predicting that, once traditional hard assets are overbought, capital will rotate into bitcoin, allowing it to “catch up” to gold.