‘Trojan Horse’: Kyle Bass Warns China Will Use Digital Yuan to Export Tech Authoritarianism The Chinese regime is using its new state-controlled digital currency as a Trojan horse against western democracies—and the free world needs to outlaw it, warned hedge fund manager Kyle Bass. “I think that the digital RMB [renminbi] is the largest threat to the world as it exists today,” Bass said in an interview with The Epoch Times’ affiliate NTD on April 8. Bass is the founder and chief investment officer of Dallas-based Hayman Capital Management. On Thursday, China’s hawkish state-run outlet Global Times proudly proclaimed that Beijing has taken the lead in the race between governments to roll out their own sovereign digital currency, given its work on “relevant standards and legal framework.” The article boasted that the digital yuan (also known as renminbi) will help challenge “U.S. dollar hegemony.”