About this episode
Banks and crypto used to wage their regulatory battles behind closed doors. Not anymore. The fight is completely in the open now, and it's getting hairy. This time, the battle is about whether stablecoins can pay interest. Banks say stablecoin yield will drain trillions from the financial system. Crypto says banks should compete on price, not regulation. It's a trillion-dollar fight over who gets to hold the American savings account in the 21st century. If banks lose, they don't just lose customers. They lose the ability to create money through fractional reserve lending - and they're not about to take that sitting down.
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