Coinbase CEO has blunt 2-word response to bank deposits
Coinbase CEO Brian Armstrong replied "Narrative violation" to data from his policy chief Faryar Shirzad showing stablecoins and bank deposits growing in tandem - USDC to about $75 billion and US bank deposits to roughly $7 trillion, both up around 4.5% in six months. The exchange used it to rebut bank lobby claims that stablecoin yield under the CLARITY Act would drain deposits.
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