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I am Big Balls!
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So apparently the company which does $USDC (Circle) dropped 18% in market cap.
The reason? The "Compromise" they came up with for the upcoming cypto legislation that was supposed to give clarity to the crypto industry is now that you aren't allowed to pay yield or interest on stablecoin holdings. All because the banks realized if people could get consistent yield holding stable coins versus no real interest/yield holding dollars in a bank they knew where the capital would fly to.
yay crypto?
The reason? The "Compromise" they came up with for the upcoming cypto legislation that was supposed to give clarity to the crypto industry is now that you aren't allowed to pay yield or interest on stablecoin holdings. All because the banks realized if people could get consistent yield holding stable coins versus no real interest/yield holding dollars in a bank they knew where the capital would fly to.
yay crypto?
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