The Bank for International Settlements’ (BIS) push to isolate crypto markets and its controversial recommendations on DeFi and stablecoins is “dangerous” for the entire financial system, warns the head of a blockchain investment firm.

“Many of their recommendations and conclusions – perhaps due to a mix of fear, arrogance or ignorance–are completely uninformed and frankly, dangerous,” CoinFund president Christopher Perkins said in an April 19 X post, referring to the BIS April 15 report titled “Cryptocurrencies and decentralized finance: functions and financial stability implication.” 

BIS recommendations exposes TradFi to risks of “unimaginable scale”

“Crypto is not communism,” Perkins said, pushing back against the BIS’s call for a “containment” approach to isolate crypto from traditional finance and the broader economy.

“It’s the new internet that provides anyone with a connection access to financial services,” Perkins said. “You cannot control it anymore than you control the internet,” he added.

Perkins warned that a containment approach to crypto would expose the traditional financial system to massive liquidity risks “of unimaginable scale,” especially when the crypto market operates in real-time, 24/7, while traditional financial markets shuts down after trading hours.

“If implemented they will cause–not mitigate–the systemic risk they seek to prevent.”

The report warned that the number of investors and amount of capital in crypto and DeFi have “reached a critical mass,” with investor protection becoming a “significant concern for regulators.”

Source: Michael Egorov

Perkins pushed back against the BIS’ claim that DeFi presents significant challenges, arguing instead that it represents a “significant improvement” over the “opacity” and imbalances of the traditional financial system.

Related: Crypto industry is not experiencing regulatory capture — Attorney

Responding to the BIS’s concern about the anonymity of DeFi developers, Perkins questioned its relevance:

“Sorry, but when was the last time a TradFi company published a list of its developers? Sure, public companies provide a degree of disclosures and transparency, but they seem to be dying off in favor of private markets.”

Perkins also critiqued the BIS’s concern around stablecoins that it could lead to “macroeconomic instability in countries like Venezuela and Zimbabwe.”

“If there is demand for USD stablecoins and it helps improve the condition of anyone in the developing world, perhaps that is a good thing,” Perkins said.

Source: Christopher Perkins

Perkins wasn’t alone in criticizing the controversial report. Lightspark co-founder Christian Catalini also weighed in, posting a series of critiques on X that same day. Catalini summed up the report with the analogy:

“Think: writing parking regulations for a fleet of self‑driving drones — earnest work, two technological leaps behind.”

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Financial educator, author of Rich Dad, Poor Dad, and investor Robert Kiyosaki recently forecasted a $1 million Bitcoin (BTC) price by 2035 as the US dollar continues to lose value to inflationary monetary policies.

“I strongly believe, by 2035, that one Bitcoin will be over $ 1 million, Gold will be $30,000, and silver $3,000 a coin,” Kiyosaki wrote in an April 18 X post.

Kiyosaki, a self-described gold bug, has long argued that bearer assets like gold, silver, and more recently Bitcoin, are critical hedges against inflation and key to long-term generational wealth accumulation through economic cycles.

United States M2 money supply 1959-2025. Source: TradingView

“In 2025, credit card debt is at all-time highs, US debt is at all-time highs, unemployment is rising, 401k’s are losing, and pensions are being stolen. The USA may be heading for a greater depression,” Kiyosaki warned.

Kiyosaki, like many other sound money advocates, has continually warned of an impending financial crash brought on by expansionist monetary policies and fiscal irresponsibility. Bitcoin maximalists argue that loose monetary policy will drive the price of Bitcoin to seven-figures.

Related: Bitcoin could hit $1M if US buys 1M BTC — Bitcoin Policy Institute

Analysts eye $1 million BTC in the 2030s

In May 2024, Twitter co-founder Jack Dorsey forecasted that the price of a single BTC would be $1 million by 2030 and could appreciate further.

Trader and investor Michaël van de Poppe told Cointelegraph, in November 2024, that Bitcoin could go to $1 million. However, the price appreciation would come with hyperinflation and a broader economic collapse, the trader said.

Blockstream CEO Adam Back said the price of Bitcoin could rise to $1 million per coin if the Trump administration established a Bitcoin strategic reserve for the United States and started buying Bitcoin on the open market.

On Dec. 10, Eric Trump delivered the keynote speech at the Bitcoin MENA event in Abu Dhabi, United Arab Emirates (UAE), and predicted that Bitcoin would hit $1 million due to its scarcity.

More recently, in February 2025, Ark Invest CEO Cathie Wood said that Bitcoin could hit $1.5 million by 2030 if demand for the digital asset continues to grow.

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Charles Schwab Corp CEO Rick Wurster is reportedly eyeing an April 2026 launch window to provide spot Bitcoin (BTC) trading services to Schwab clients.

According to RIABiz, Wurster cited a 400% increase in traffic to Schwab’s crypto website as evidence of investor interest in digital assets. The CEO predicted:

“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto. Our goal is to do that in the next 12 months, and we are on a great path to be able to do that.”

The Schwab CEO’s comments reflect the growing trend of traditional financial (TradFi) institutions adopting crypto products and offering services that blur the line between the digital asset world and TradFi.

Related: Lyn Alden lowers Bitcoin forecast after ‘tariff kerfuffle,’ eyes liquidity

Schwab makes crypto moves under new CEO

Rick Wurster assumed the helm at Schwab in 2025, and in a November 2024 Yahoo Finance interview, said the company was happy to provide services to clients who want to trade digital assets.

At the time, Wurster told the financial news outlet that Schwab wanted to offer crypto directly to its clients but was waiting for a positive regulatory catalyst.

Following the re-election of Donald Trump in the United States, Wurster said the financial services company anticipated a much better regulatory environment to expand its digital asset services.

The Schwab CEO previously said he did not own any cryptocurrency, adding that he felt “silly” for not investing in the nascent asset class as it has continued to provide outsized investment gains.

Rick Wurster speaking to Yahoo Finance in November 2024. Source: Yahoo Finance

In January 2025, Charles Schwab partnered with the Trump Media and Technology Group (TMTG) to provide customized exchange-traded funds and cryptocurrency services for the upcoming “Truth.Fi” service.

Truth.Fi will encompass digital assets and traditional financial services as a proposed alternative to the legacy banking system.

TMTG CEO, and White House official, Devin Nunes said the goal of TMTG is to provide an option for individuals worried about unfair banking practices and “cancellation, censorship, debanking, and privacy violations committed by big tech and woke corporations.”

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