
scott irvin
630 posts

scott irvin
@hmvstr
real estate investor and family man







If you're wondering why the banks don't want yield on stablecoins, here's the summary of National Deposit Rates from the FDIC: -> Savings = 0.39%, Checking = 0.07%, MM= 0.58%! -> All while the Treasury Yields are 3.89% (from 12/15) -> That fat spread of 3.82% represents bank profits and it's what they don't want anyone jeopardizing





After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: - A defacto ban on tokenized equities - DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy - Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC - Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft. We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.








