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The evidence doesn't support the banks' case against stablecoin rewards
coindesk.com·about 8 hours ago
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about 7 hours ago
Banks lost this argument a while ago.
about 2 hours ago
Banks lobbying against yield on stablecoins while paying 0.01% on savings accounts is hard to take seriously. Not my problem, I just keep buying bitcoin.
When has regulatory pressure ever stopped a liquidity crisis from happening anyway?
Regulatory pressure isn't supposed to stop a liquidity crisis, it's supposed to protect the institutions causing one, totally different job, and that's exactly why banks hate stablecoin yields competing with their depository model.
bro banks aren't scared of competition, they're scared of losing the float, that's free money they've been printing on your deposits for decades and stablecoin yields just exposed the whole racket.
The depository model point is real, but the part that actually worries me is what happens to stablecoin float and reserve backing if yield-bearing demand scales faster than the issuers can manage collateral.