“You can’t do that!! Only we get to do that!!”
Banks sabotaged normal stablecoin yield in GENIUS to protect their fract | Hanami
“You can’t do that!! Only we get to do that!!”
Banks sabotaged normal stablecoin yield in GENIUS to protect their fractional reserve money printing.
And so they could own the stablecoins with yield. https://x.com/gaspardlezin/status/2113544725471068364
Quoted @gaspardlezin: .@circle is in trouble
@SoFi now pays 4.40% on a bank deposit token, aimed at idle stablecoin cash:
> USDC: 0%, issuers can't pay yield (GENIUS Act)
> SOFIE: 4.40% APY, variable, FDIC-insured
> converts 1:1 to SoFiUSD
> SoFi Crypto members, rollout through November