🚨 White House just dropped receipts on the bank lobby's anti-stablecoin FUD ahead of today's CLARITY vote
Banks are pushing Congress to ban ALL stablecoin rewards (even from non-issuers) beyond GENIUS's existing issuer-paid yield ban. Their claim? Mass deposit flight will destroy the system.
CEA modeled it. The numbers are brutal:
1️⃣ Bank lending increases by... 0.02% 😂
$2.1B total. Community banks get $500M (0.026% bump on their $2.3T deposit base). Meanwhile 76% goes to LARGE BANKS. Community banks are being used as PR cover while big banks protect their monopoly (and launch their own stablecoins lmao)
2️⃣ Consumers lose $800M/year
Costs exceed benefits 6.6 to 1. Banks want YOU to pay for their regulatory capture
3️⃣ Even at $3.7T stablecoin market cap?
Still under 0.2% lending increase. The math doesn't math
4️⃣ "But deposits disappear!"
No. When an issuer buys Treasuries, the SELLER gets the deposit. Money doesn't vanish—it changes hands. Only way it leaves the system is if you're literally stuffing cash under your mattress
CEA even built an interactive model because apparently the bank lobby can't do basic arithmetic
If CLARITY fails, GENIUS (which banks claim is "intolerable") stays in place anyway. This is pure regulatory theater to kneecap stablecoin competition
Maybe banks should focus on competing instead of lobbying for monopolies 🤷
Banks are pushing Congress to ban ALL stablecoin rewards (even from non-issuers) beyond GENIUS's existing issuer-paid yield ban. Their claim? Mass deposit flight will destroy the system.
CEA modeled it. The numbers are brutal:
1️⃣ Bank lending increases by... 0.02% 😂
$2.1B total. Community banks get $500M (0.026% bump on their $2.3T deposit base). Meanwhile 76% goes to LARGE BANKS. Community banks are being used as PR cover while big banks protect their monopoly (and launch their own stablecoins lmao)
2️⃣ Consumers lose $800M/year
Costs exceed benefits 6.6 to 1. Banks want YOU to pay for their regulatory capture
3️⃣ Even at $3.7T stablecoin market cap?
Still under 0.2% lending increase. The math doesn't math
4️⃣ "But deposits disappear!"
No. When an issuer buys Treasuries, the SELLER gets the deposit. Money doesn't vanish—it changes hands. Only way it leaves the system is if you're literally stuffing cash under your mattress
CEA even built an interactive model because apparently the bank lobby can't do basic arithmetic
If CLARITY fails, GENIUS (which banks claim is "intolerable") stays in place anyway. This is pure regulatory theater to kneecap stablecoin competition
Maybe banks should focus on competing instead of lobbying for monopolies 🤷