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Banks are terrified of stablecoin yield

YouTubeCodeMonkey Mike

Banks are terrified of stablecoin yield

The banking lobby is fighting to gut stablecoin yield out of the Clarity Act. They argue it causes massive deposit flight. One expert called that cynical and nonsensical: Americans already park cash in money market funds earning yield. Research shows for every $1 of deposits leaving, $2 of new cash flows into the US banking system from abroad ...

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