They have a point tho, if you see stablecoins as a narrow bank (bank that doesnt lend) and money flows from other banks to this, it would cause a credit crunch across the economy and slow it down
This is the reason why narrow banks are banned in the US
haonan
@haonan
02-11
banks to congress: "if people can earn 3.5% on stablecoins, they'll pull $6.6 trillion out of our 0.1% accounts"
yeah. that's called competition
welcome to capitalism
Sector:
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
