The post ‘The end of bank’s rip-off’ – Why VC thinks stablecoins will force banks to change appeared on BitcoinEthereumNews.com. Key Takeaways  Why is the crypto industry confident of winning against banks?  Stablecoin rewards are scaling adoption, threatening banks’ deposits.  How has the stablecoin performed post-GENIUS Act?  About +$50B has been added, increasing the market size to over $300B, thanks to interest-paying stablecoins.  The crypto industry isn’t backing down from the multi-billion-dollar stablecoin rewards fight with banks.  Recently, Coinbase CEO Brian Armstrong slammed the big banks’ aggressive push to ban stablecoin interest as a move to ‘maintain monopoly.’  He urged the traditional players to develop better solutions to attract customers, instead of stifling competition.  The issue has resurfaced as the banking lobby targets the ongoing CLARITY Act discussion to ban stablecoin yield.  The end of banks’ rip off? Adding to the crypto voice, Tushar Jain, managing partner at VC Multicoin Capital, said,  “The Genius Bill is the beginning of the end for banks’ ability to rip off their retail depositors with minimal interest.” Jain noted that banks will be forced to share more interest with depositors as more tech giants like Meta, Google, and Apple begin offering their stablecoins.  Source: X Currently, most banks offer less than 1% interest for U.S. bank depositors. At the current +5% yield rate, the banks keep most of the accrued interest from Treasury bills.  Assuming a bank allocates $100B of customer deposits to T-bills for three months, that would be $5.3 billion on a yearly basis at the current 5.3% T-bill yield. Yet, users will get about 0.4 billion as rewards. The banks keep nearly everything and let users share the breadcrumbs. In fact, this is exactly Tether’s USDT model in the emerging markets; keeping the billions while helping users avoid inflation and devaluation of local currencies.  Stablecoin gearing for a win On the contrary, some stablecoin issuers offer over 4% rewards for deposits,… The post ‘The end of bank’s rip-off’ – Why VC thinks stablecoins will force banks to change appeared on BitcoinEthereumNews.com. Key Takeaways  Why is the crypto industry confident of winning against banks?  Stablecoin rewards are scaling adoption, threatening banks’ deposits.  How has the stablecoin performed post-GENIUS Act?  About +$50B has been added, increasing the market size to over $300B, thanks to interest-paying stablecoins.  The crypto industry isn’t backing down from the multi-billion-dollar stablecoin rewards fight with banks.  Recently, Coinbase CEO Brian Armstrong slammed the big banks’ aggressive push to ban stablecoin interest as a move to ‘maintain monopoly.’  He urged the traditional players to develop better solutions to attract customers, instead of stifling competition.  The issue has resurfaced as the banking lobby targets the ongoing CLARITY Act discussion to ban stablecoin yield.  The end of banks’ rip off? Adding to the crypto voice, Tushar Jain, managing partner at VC Multicoin Capital, said,  “The Genius Bill is the beginning of the end for banks’ ability to rip off their retail depositors with minimal interest.” Jain noted that banks will be forced to share more interest with depositors as more tech giants like Meta, Google, and Apple begin offering their stablecoins.  Source: X Currently, most banks offer less than 1% interest for U.S. bank depositors. At the current +5% yield rate, the banks keep most of the accrued interest from Treasury bills.  Assuming a bank allocates $100B of customer deposits to T-bills for three months, that would be $5.3 billion on a yearly basis at the current 5.3% T-bill yield. Yet, users will get about 0.4 billion as rewards. The banks keep nearly everything and let users share the breadcrumbs. In fact, this is exactly Tether’s USDT model in the emerging markets; keeping the billions while helping users avoid inflation and devaluation of local currencies.  Stablecoin gearing for a win On the contrary, some stablecoin issuers offer over 4% rewards for deposits,…