You’re witnessing hypocrisy in plain sight with Yields + Clarity Act. Banks say there’s a pathway to apply for a banking license but behind the scenes… But these same banks are the ones lobbying behind the board to prevent any crypto related companies from actually getting it. Just look at what happened Custodia bank. And all the crypto firms applying for banking charters now… It’s the equivalent of saying “just apply for New York bitlicense” while they been stalling applications for half a decade. This is set in place so banks ban competition so they can continue robbing retail off interest rate spread. Not to “safeguard” customer funds. Banks telling retail users otherwise are lying to your face. We’re about to witness one of the most destructive bills to crypto be passed from Bank lobbying

@aleabitoreddit Sounds good for $SOFI then right? Even if overall destructive

@aleabitoreddit There has to be a cost from safety in a bank. Either they take the yield edge or they charge higher fees. Pick your poison or keep your money under your mattress.

There's still time to pick which twin will win! Don't miss out on your share of $2 million in Bonus Bets.

The reality is smaller stepping stones to be made first to allay fears and lay the groundwork for future bills/changes as adaptation increases. Expecting massive, sweeping regulatory overhauls that fully integrate crypto into traditional banking overnight is unrealistic. The industry must accept smaller, tighter regulations first to prove they can operate safely and build trust. Let's be honest, a lot of the crypto market - especially meme tokens has been more on the scammy side than anything.

@aleabitoreddit Would be great to encourage people to move assets away from $SOFI and others lobbying against yield for stable coins etc. Withdrawing assets is the only language banks understand. You have good reach and might be able to have some impact.

@aleabitoreddit A fucking moron!! That's the one problem with the first amendment. Freedom of speech and 💥 every moron can tell people whatever tf they want and more morons pick it up and spread it and it becomes "fake news"

@aleabitoreddit Im kind of lost here. Can you simplify for someone learning?

@aleabitoreddit This massive spread is so they can loan out people's money with little reserve liquidity and have the default risk covered by that same spread. Crypto loans are more collateralized so there's no need for such a wide spread. Usury dies hard

@aleabitoreddit @TheShortBear how harmful would it be for krypto if this bill is getting passed without the yield on stablecoins?

@aleabitoreddit $KTA is in the middle of this now. Are you thinking there’s no chance?

@aleabitoreddit So you insinuate that behind the scenes banks lobby for licenses to not be given, but you don’t say if the safety concern that he addressed has any merits.

Discover the full portfolio in action through ServeTheHome’s video review of Supermicro’s end-to-end AI Factory solutions powered by NVIDIA Blackwell.

@aleabitoreddit Why can't they just buy a company that already has a banking license?

@aleabitoreddit So what? Seriously you are advocating the us treasuries are the main backing of stable coins so everyone can pay interest? There will be competition Sofi will still pay more interest. The problem with this bill is it does nothing to get away from central currencies.

@aleabitoreddit Bruhs, is my quant supposed to give political takes? Does the Kelly criterion apply to voting too?

@aleabitoreddit Well all the crypto bros making fun of sofi for all these years where they focused on getting a bank licence need to rethink now. And you need to be reasonable. If all crypto trash compsnies can offer this yield. The whole system collapses. Banks csn no longer lend. Use yourbrain

Hypocrisy? Nah. Every crypto firm can apply for a full bank license—and this Admin is fast-tracking approvals. SoFi already did it and launched their own SoFiUSD stablecoin. Why wait? So they can skip real oversight and risk the next FTX-style bankruptcy that screws customers. Noto nailed it: Want bank-level yields? Become a bank. Safety standards exist for a reason.

Lmao, this is pure 2023 cope. Custodia got denied under Biden, courts upheld it. Under this admin OCC is fast-tracking crypto banking charters and Kraken just got its Fed master account. The pathway is wide open. Banks lobbying for real rules (capital, exams, protections) isn’t “hypocrisy”, it’s stopping another Terra/Celsius disaster. Or did you forget that? Noto precisely nailed it imo. If you want stablecoin yields like a bank? Become an IDI. Stop crying for shortcuts. Clarity Act isn’t destructive, the opposite is true. It’s forcing crypto to play by adult rules. Cope harder, not every “bank” ceo is a crook trying to steal retail money. You have no idea who Anthony Noto is, in the slightest.

@aleabitoreddit 100%

@aleabitoreddit SoFi is quite literally the most crypto friendly, highest APY, gives far better perks than 99% of the banks in THE USA. Even in refinancing they offer 1/3 of what normal people pay on any other loan. Shit up you know fuck all about this topic

Starlink’s high-speed internet is available in your area. Experience speeds up to 400+ Mbps to stream your favorite shows and sports, work from home, browse social media and more.

@aleabitoreddit Hope it goes to the way that sofi wants

@aleabitoreddit Whenever a politician speaks I witness hypocrisy

@aleabitoreddit It doesn’t help if you try to reach the exchanges they don’t even answer the phone lol they have piss poor customer service and accountability

@aleabitoreddit lol $SOFI is one of if not the most crypto friendly bank and you’re shitting on them?

@aleabitoreddit Well $SOFI managed to get theirs despite what you say if true. $SOFI has shown that its possible & worth doing

@aleabitoreddit Here is the analysis ⬇️