eth is at 2063.97 and down 2.79% on the day
meanwhile goldman, citi and bbva just put 270 million into project faro, a bank stablecoin aimed at 2027
my read: money like that settles on permissioned rails, not on a public chain
the $ETH thesis is still alive, but it needs fee revenue from real users, not from bank pilots
what breaks my take is a regulated issuer actually picking ethereum for settlement at scale
until then eth trades as a beta on risk appetite, not as settlement infrastructure
meanwhile goldman, citi and bbva just put 270 million into project faro, a bank stablecoin aimed at 2027
my read: money like that settles on permissioned rails, not on a public chain
the $ETH thesis is still alive, but it needs fee revenue from real users, not from bank pilots
what breaks my take is a regulated issuer actually picking ethereum for settlement at scale
until then eth trades as a beta on risk appetite, not as settlement infrastructure
