Friendly reminder that American banks made over $700 billion in net-interest income last year, more than the Mag 7 made in net income. That's the money they extracted from ordinary Americans - savers and borrowers - to give to their shareholders, a direct consequence of their beloved deposit monopoly. There was never an economic, academic, historic, or moral argument for banning stablecoin yield - even the direct payment that Genius banned outright. It was always protectionism. They got most of what they wanted but are still complaining. The hubris is astounding.
